Fxkart.com, a Bengaluru, India-based online aggregator of Foreign Exchange Dealers, raised $2m in seed funding.
Backers included its founder Dr Mushtaq Shah and its Strategic Advisor Dr Faraz Naqvi in their private individual capacities.
Dr Mushtaq Shah based in UK, is the co-founding partner of Quantmetrics Capital Management, a billion dollar hedge fund company. Dr Faraz Naqvi based in the US, is a partner at QM Ventures, a private investment group focusing on investments in Healthcare, Technology and Infrastructure.
The funds will be used to expand the dealer network of the company in India and enhance the IT infrastructure.
Fxkart.com is an online platform for exchange of foreign currency that allows consumer to improve the experience of carrying out their Forex transactions. Fxkart.com FZ LLC is a UAE based Free Zone Company having its R&D Centre at Bengaluru. The company also announced the launch of its Forex booking mobile app showcasing 500 + dealer locations across the country, with Geo-location, instant chat and deal tracking.
FinSMEs
30/03/2015