Neo banking startup OPEN raises ₹32 crores from Beenext, others

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Bengaluru-based fintech startup OPEN has raised ₹32 crores in series A funding round from Beenext along with participation from Unicorn India Ventures, AL Trust, 3one4 Capital, Speed Invest and others. Beenext has been investing in startups from India, Southeast Asia, the USA and Japan.

The startup issued 6,362 CCPS at ₹51,211 each and one equity share of same worth to 3one4 capital. Beenext invested ₹13.6 crores, 3one4 Capital invested ₹8.5 crores while the other investors poured in the rest amount. Earlier the startup raised an undisclosed amount in pre-series A round from Unicorn India Ventures 9 months ago.

Founded by Anish Achuthan, Mabel Chacko and Ajeesh Achuthanand Deena Jacob, the startup offers digital baking services to startups and MSMEs. It is Asia’s first digital banking service that comes packed with tools for bookkeeping, invoicing, transacting and availing credit. The platform also offers APIs for developers to integrate various services in the business workflows.

The startup has processed over ₹14,000 crores in transactions for more than 25,000 customers. The startup has also raised ₹1.75 crores from PayU India CEO Amrish Rau and managing director Jitendra Gupta in July 2017. In total, the startup has raised around ₹51.8 crores in four funding rounds since its inception in 2017.

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Divya Baral
Divya is the correspondent for the category "Funding News", "Funding Roundups" and author of "Fundraising Essentials". She has been writing for 10 years.

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