India, Sept. 3 -- Fintech unicorn turned small finance bank (SFB) slice is set to raise around $100 Mn in fresh funding at a valuation of $450 Mn-$465 Mn, marking a sharp decline from the startup's last valuation of around $1.25 Bn, sources told Inc42.

The round is expected to be backed by Peak XV-backed wealth management platform Neo Group, Japan-based Kado Global and existing investor Moore Strategic Ventures, according to people familiar with the development. The round could also include a secondary component, with the exact split between primary and secondary capital yet to be discerned.

Moneycontrol reported the development first.

The investment deal could potentially value the startup at roughly one-third of its last known valuat...