Vegapay, a Gurgaon, India-based fintech provider of a digital lending and card management platform, raised $1.1M in Pre-Seed funding.
The round was led by Eximius Ventures along with DSP HMK, Capri Global, Upsparks Capital, MGA Ventures, Climber Capital, Arun Venkatachalam (Murugappa Group), Pratekk Agarwaal (General Partner @ GrowthCap Ventures) and angel investors.
The company intends to use the funds to develop their technology further to make frontline adoption easier for institutions and non-institutions.
Co-founded in October 2022 by Gaurav Mittal (Ex-Zeta), Himanshu Agrawal (Ex-Amazon), Puneet Sharma (Ex-BharatPe) and Abhinav Garg (Ex-Podeum), Vegapay is building a tech stack and card management system that enables regulated entities as well as fintechs to issue and further increase card as well as lending penetration in India.
The company aims to create a micro service driven card and lending issuance stack that would enable issuers to integrate and issue lending products that can cater to needs of consumer cohorts.
FinSMEs
16/08/2023