NEW DELHI:Neo-banking platform INDmoney has raised $11 million from Singapore-based Sixteenth Avenue Capital, Lenskart founder Peyush Bansal, entrepreneur and influencer Ankur Warikoo and others.
With this, INDmoney has accomplished its $86 million Collection D spherical with backing from Tiger International, Steadview Capital, Dragoneer Funding Group, Sixteenth Avenue Capital, Peyush Bansal, Ankur Warikoo and others.
This spherical additionally noticed participation from founder Ashish Kashyap and among the key staff members of the corporate comprising Sunny Bajaj (chief compliance officer and Common Counsel), Divyang Bhardwaj (head of selling), Ankur Goyal (technique and finance) and Vinay Saraf (head of finance).
Rashmi Kwatra, founder and managing associate of Sixteenth Avenue Capital, mentioned, “Know-how enabled, cell first monetary companies suppliers are reaching and catering to beforehand unserviced buyer segments. That is reworking the monetary companies panorama within the historically underpenetrated markets of South and Southeast Asia. Ashish Kashyap and INDmoney have an especially vigilant product focus. A product first mentality coupled with an impeccable execution potential is leading to a pleasant client expertise for hundreds of thousands of individuals. These clients wish to perceive and develop their private funds.”
Peyush Bansal, founder and CEO of Lenskart, mentioned: “There are only a few product firms in India that are scaling on the again of client expertise and deep tech vs promoting. I’ve been utilizing INDmoney, and it’s an incredible product with world potential, and that is what I like about it.”
Warikoo, who’s an energetic consumer of INDmoney, mentioned he was thrilled to get the chance to take part in INDMoney’s journey as an investor as nicely.
Ashish Kashyap, founding father of INDmoney mentioned: “I’m enthusiastic about this growth for 2 causes. First: To associate with one of the best establishments and people that can allow us to meet our mission of enabling customers to raised their monetary lives through our Neo banking options. Second: it is a superb validation when your personal clients and staff members make investments behind the mission.”
Supply: Live Mint