Mumbai-based fintech startup Fingpay, a company owned by Tapits Technologies, announced it has raised Rs 27 crore Series A round of funding from early-stage investment firm IvyCap Ventures, as per the company’s statement.
Fingpay will use the proceeds from the latest round of funding to add various banking and financial products on the platform that can be accessed by its last-mile customers, as well as enter new geographies, according to an official statement released by the company.
“In the current situation, digital banking has become the need of the hour for all the segments of our society. As we stride towards digital and financial inclusion, we are developing simple, secure and reliable banking and financial products for the last mile,” Pratyush Halen, chief executive of Fingpay, said.
Additionally, Fingpay, which had earlier raised seed funding from ICICI Bank in 2018, has also stated its objective of evolving into a digital or neo-bank, although it did not specify an exact timeframe for doing so.
The company was founded in 2016 by Pratyush Halen and Anuraag Agrawal.
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