MUMBAI, June 4 -- Fintech platform WeRize has raised $7 million in a pre-Series C funding round, according to a company statement. The round was led by Sony Innovation Fund, the corporate venture arm of Sony Group Corp., with participation from existing investor 3one4 Capital.

The fresh capital takes the Bengaluru-based startup's total equity raised to more than $28 million since its inception in 2019. The company said the funds will be deployed toward building artificial intelligence infrastructure, expanding its product suite, and preparing for a potential initial public offering.

"The company is targeting a Series C round some time next year, and plans an IPO (initial public offering) by 2028 if all internal targets are met according...