Thiruvananthapuram, Feb. 15 -- A homegrown start-up in Kerela that offers business banking solutions for Small and Medium Enterprises (SMEs) has successfully raised funding of USD 5 million from leading investors.
The company was part of the Fund of Fund scheme of the Kerala Startup Mission (KSUM).
Open, the neo-banking platform for SMEs, will use the funds to scale up the team and launch new products, including a credit card named DUO for start-ups, scheduled to be introduced in March.
Open bagged the funding of USD 5 million from a consortium led by Beenext, Speedinvest, and 3one4 Capital. Existing investors Unicorn India Ventures and Angellist Syndicate also participated in this round.
The platform has grown to over 30,000 SMEs a...