Corporate spend mgmt startup Enkash raises $20-M led by Ascent Capital

Thane-based corporate expense management platform Enkash has raised USD 20 million in a new round of funding led by Ascent Capital along with Baring India and Singapore-based White Ventures. Existing backers Mayfield India and Axilor Ventures also participated in the funding round. The startup operates a payments management platform for enterprises like issuing corporate cards. Enkash plans to utilise the capital to expand its offerings around banking-as-a-service, scaling up its 'plug and play' cards issuance stack and its geographical presence.