Fintech startup Backspace Tech announced that it has raised $450 K USD from strategic investors. The names include Mohan K & Jai Kumar, Founders of Ippopay (Fintech), Omar Bin Brek, UAE-based founder of Foloosi (fintech) along with M2P Founders and Other Angel Investors.
Backspace Tech, founded by Praveen Krishna Dev, Vishwanath Vijayan and Karthick Sivaram V, is a fintech startup building SaaS products for financial institutions to solve the disputes and chargebacks on UPI & Card Payments. Their roadmap is to become Banking as a service provider in the Global market and redefine the banking backend system.
The fresh round of funds will be used to strengthen the technology stack, team expansion and for Go To Market.
From Backspace Tech, their product will be solving the challenges of Issuer Banks as well as Acquirer Banks, in the entire process of disputes & chargebacks by bringing technology and automation through SaaS, which no one has provided before, globally, the statement said.
Commenting on the same, Praveen Krishna Dev, Co-Founder of Backspace said, “Erase History. Create Innovation. – that’s how Backspace Tech started. In order to make anything a reality, you have to dream about it first. At the same time dreaming alone will not take you heights, you need people around, carrying similar thoughts, goals & vision. A Co-founder relationship is more fragile than a life partner, make sure to handle it with care. We are not just founders, not just friends, a chosen family for 3 Decades.”
Mohan K, Co-founder and CEO, IppoPay said, ”Being in the fintech industry particularly in payments for longtime, I know very well there is a huge gap in UPI & Cards dispute management. Backspace Tech is exactly solving the pain point on Chargebacks & Disputes through technology, which made me excited and to travel with Backspace Tech’s startup journey.”
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