Chennai-based API platform – YAP has raised $10 million in Series B funding led by Flourish Ventures along with Omidyar Network India. Other investors that took part in the funding round include 8i Ventures Fund, Beenext and Better Capital.
The fintech startup currently provides its services to companies in the United Arab Emirates, India, Australia, Nepal, the Philippines and New Zealand.
Co-founder Madhusudanan R, informed, “YAP plans to expand to Bangladesh, Saudi Arabia, Oman, Egypt, Vietnam and Indonesia.”
“We are uniquely poised to cater to new cohorts of distributors as more firms embed financial services into their digital platforms. This investment allows us to strengthen our technology teams, build new capabilities as well as reach new markets across Asia,” added Madhusudanan.
The Chennai-based startup was founded in 2014. It is the API Platform for Banking and Payments products in Asia. More than 200 Fintechs across Asia rely on YAP’s API to power their own branded products. The category leaders across Ride hailing, food delivery and Mobile wallet leverage the YAP API’s.
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.