Cashfree: Raised $5.5m Series A round

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Cashfree: Raised $5.5m Series A round

Cashfree: Indian start-up fintech, raised $5.5 mn Series A round led by Smilegate Investment

  • US accelerator programme Y Combinator participated in the round, along with previous investors
  • Cashfree also focuses on moving money in India and connects its customers’ corporate banking services via a single interface
  • The company intends to use the new investment to expand its team and to distribute its API banking platform
  • The company used by more than 12,000 businesses to disperse bulk transfers via India’s UPI system or wallet accounts
  • Cashfree also cuts down on manual work for customers by offering analysis
  • The company processes $4.5 billion annual recurring volume