Cashfree Payments has announced the raise of USD 53 million in a new funding round to drive product development, market expansion, and global growth.Following this announcement, the capital will accelerate Cashfree’s payment offering and boost the overall market outreach. The initiative aims to position Cashfree to leverage synergies with KRAFTON, while also fueling development and designing new solutions across multiple digital sectors.
In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Cashfree Payments enables businesses to start transactions in a day while also offering features like one-click checkout, abandoned cart recovery, and return prediction, as well as optimising the manner in which businesses improve the payment experience of customers, boost conversions, and grow profitability.
According to the official press release, the investment is expected to improve the way Cashfree Payments accelerates its key efforts across cross-border and security developments and international expansion as the company enters the next phase in its growth strategy. Cashfree Payments will also remain focused on driving profitable development and scales while designing long-term value for customers and accelerating the development of the overall payments space.
In addition, as India’s fintech industry is experiencing rapid growth, Cashfree Payments’ funding round will also be part of KRAFTON’s ongoing efforts to support innovative solutions that drive growth and foster a dynamic startup ecosystem.
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