Vegapay, a Gurgaon, India-based fintech startup, raised $5.5M in seed funding.
The spherical was led by Elevation Capital, with participation from Eximius Ventures.
The corporate intends to make use of the funds to rent builders, designers, and engineers, to boost its product suite, specializing in product growth and regulatory compliance updates.
Based by Gaurav Mittal, Himanshu Agrawal, Puneet Sharma, and Abhinav Garg in 2022, Vegapay offers a lending tech stack and a card administration platform that helps banks, NBFCs and fintechs launch versatile card & credit score based mostly merchandise at velocity. They empower card issuers to launch and handle extremely configurable card applications, together with credit score, debit, pay as you go, and foreign exchange playing cards, in addition to modern credit-on-UPI-based options. Moreover, Vegapay gives Mortgage Origination Programs (LOS), Co-lended Mortgage Administration Programs (Co-LMS), and Mortgage Assortment Programs (LCS), addressing vital problems with velocity, scale, and innovation to assist purchasers ship monetary providers.
FinSMEs
02/06/2024
