Tuesday
November 24
2020

YC-Backed Cashfree Raises $35.3 Million for Its Payments Platform

By Manish Singh

Cashfree,  an Indian startup that offers a wide-range of payments services to businesses, has raised $35.3 million in a new financing round as the profitable firm looks to broaden its offering.

The Bangalore-based startup’s Series B was led by London-headquartered private equity firm Apis Partners  (which invested through its Growth Fund II), with participation from existing investors Y Combinator  and Smilegate Investments. The new round brings the startup’s to-date raise to $42 million.

Cashfree kickstarted its journey in 2015 as a solution for restaurants in Bangalore that needed an efficient way for their delivery personnel to collect cash from customers.

Photo courtesy of blickpixel.

Source: TechCrunch (link opens in a new window)

Categories
Finance, Investing, Technology
Tags
digital payments, financial inclusion, fintech, funding, impact investing, startups