Fintech BharatX raises $5-M from Y Combinator

Bengaluru-based fintech startup BharatX has raised $4.5 million in its seed round led by Y Combinator, 8i Ventures, Multiply Ventures and Soma Capital. Existing investor Java Capital also participated in the round, along with angels such as Dropbox's Arash Ferdowsi, Razorpay's Harshil Mathur and Shashank Kumar, CRED's Kunal Shah, Mamaearth's Varun Alagh, Dunzo's Ankur Aggarwal, Jio's Vikas Choudhury and My Asia VC's Sajid Rahman. The startup plans to use the funds to build and expand its team, work on its product and expand its footprint.