Digital wallet for foreign tourists CheqUPI raises $500-K from Y Combinator

CheqUPI, a unified payments interface (UPI) wallet designed for foreign nationals, has raised USD 500,000 in a pre-seed funding round led by Y Combinator Accelerator Program. Launched by Manish Kumar Shukla and Sudhanshu Shekhar in 2021, CheqUPI developed in collaboration with Transcorp International Ltd, allows users to add funds using any debit or credit card. The fintech startup claims to ensure safe transactions and reduce the need for ATM visits thereby cutting foreign exchange commission costs.