Singapore-based fintech platform Volopay on Tuesday mentioned it has raised $29 million from Winklevoss twins — Cameron and Tyler — together with a world decacorn and others to enter the Indian market.
The Y Combinator-backed company playing cards and payable administration start-up raised funds in Collection A in a mixture of fairness and debt.
Volopay mentioned that it’s going to now broaden in all the APAC area, together with the MENA growth, after firmly putting itself into the Singaporean and Australian markets.
“With India churning out a number of unicorn-level enterprises yearly, it’s certainly making an enormous wave on the worldwide frontier. And that is solely the start,” mentioned Rajith Shaji and Rajesh Raikwar, Co-founders, Volopay.
“Accelerating their progress would require an environment friendly expense administration instrument that’s easy but scalable, one thing that Volopay has all the time aimed for,” they added.
The funds can even be utilised for constructing and innovating new applied sciences to enrich their current product.
The spherical additionally included participation from JAM Fund, Winklevoss Capital Administration, Accial Capital, Rapyd Ventures, fintech veterans Jeffrey Cruttenden — CEO of Acorns, Sweta Rau – Founding father of White Ventures, Amrish Rau — CEO of Pine Labs and Jitendra Gupta – Founder and CEO of Jupiter, together with Antler International and VentureSouq.
“Volopay’s foray into the Indian market will deal with exactly the issue said above by offering firms with multi-currency wallets to carry cash of their base forex rupee and any main forex and subsequently use it for payouts,” mentioned Shaji.
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