VC Fund Investments
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.
From the Venture Intelligence PE-VC Deal Database: Between Oct-18 and Apr-19, EnKash had attracted almost USD 3 M from Axilor and Mayfield. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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