Open secures USD 62 mln in Series C funding round

Monday 13 September 2021 13:30 CET | News

India-based neobanking platform Open has secured around USD 62 million in a Series C funding round from Temasek, Google, Tiger Global Management, and 3one4 Capital.   

Temasek has invested USD 34.4 million through its affiliate Arvon Investments, Tiger Global has contributed USD 7.4 million through its Internet Fund V, 3One4 invested a cumulative amount of more than USD 4.87 million through three of its funds, and Google backed the startup with USD 14.7 million in the round.

Open’s platform helps businesses send and receive payments, automate accounting and expenses, and uses application programming interface (API) tools to help integrate banking processes with SME workflows. Currently, the company claims to work with 450,000 SMEs and processing transactions worth USD 11 billion.   

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Keywords: neobanks, funding, banks, digital banking
Categories: Banking & Fintech | Payments General
Countries: India
This article is part of category

Banking & Fintech