Fintech startup INAI has announced that it has secured approx. $4 million in Paua Ventures and 9Unicorns led seed round.
The round also saw participation from Uncommon Capital, Anarko Ventures, Soma Capital, Gemba Capital and Better Capital, as well as angel investors.
Federico Wengi, Partner, Paua Ventures, commented, “As the online payments tech-stack get more sophisticated with new local payment methods, BNPL solutions (buy now pay later) and e-wallets, companies look for solutions to simplify and coordinate online payments. Inai taps into this large opportunity by offering a no-code software solution to simplify online payments once and for all. The experienced founding team has convinced us.”
He further said, “We are impressed by Anta’s and Karthik’s energy and execution speed, and we love the fact that they know each other since they were kids and have co-founded a company together in the past that experienced the problem they are trying to solve now.”
Dr Apoorva Ranjan Sharma, Co-founder and Managing Director of 9Unicorns, said, “The key differentiating factor of this platform is that it enables merchants to set up their payment stack with a single integration. Merchants are not required to write any code, which makes it easier for startups and ecommerce businesses to ramp up their operations without any technical expertise. In an increasingly digital economy like Asia where ecommerce and cross border ecommerce is on an upward growth trajectory, inai is well-poised to capitalise on the cross border payments market.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.