Cashfree scoops up $35 Mn in Series B round led by Apis Partners
Payment gateway startup Cashfree has scooped up $35.3 million in its Series B round led by London-based private equity fund Apis Partners’ Apis Growth Fund II. Existing investors Y combinator and Smilegate Investments also took part in the round.
A month ago, Entrackr had solely revealed about Cashfree’s Series B round. With this, the Bengaluru-based firm has amassed over $41 million across organization adjusts including $5.5 million Series A subsidizing drove by Korea’s Smilegate in November 2019 and $120K seed round in October 2017.
The firm will use the new capital for upgrading the item and innovation. Besides, it likewise hopes to grow new item verticals and make vital speculations. As indicated by the organization, its valuation has stretched around $200 million.
The five-year-old startup dispatched by Akash Sinha and Reeju Datta measures online installments for more than 50,000 enormous and private ventures through over about six items including installment door, payouts, auto gather, UPI stack, and commercial center settlement.
The firm has turned out installment APIs for a portion of the top organizations, for example, Delhivery, Bigbasket, Acko, CRED, Dream11, Dunzo, Xiaomi, HDFC, and Zomato.
Cashfree is the main Indian startup in the installment door space to post productivity for three successive financial years. It had posted Rs 1.4 crore and Rs 4.1 crore benefit after assessment in FY18 and FY19 separately. The organization’s unaudited financials for FY20 additionally asserted it checked Rs 100 crore in income and Rs 19.5 crore benefit after expense.
Cashfree cases to have prepared over $12 billion annualized installments as of March 2020. The firm contends with any semblance of Razorpay, Paytm, Billdesk, CC Avenue, and PayU. A month ago, Sequoia-supported Razorpay gathered up a $100 million round drove by Singapore-based GIC to enter the desired unicorn club.
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