Fintech startup Uni raises $70-M from General Catalyst, Eight Roads Ventures, others

Bengaluru-based fintech startup Uni has raised USD 70 million in a Series A round led by US-based General Catalyst Partners, with participation from Eight Roads Ventures, Elevation Capital, Arbor Ventures, and existing investors Lightspeed Ventures and Accel India. The valuation of the company rose to USD 350 million from the USD 45 million during the earlier round. It will use the funds to scale up the team, launch new category-creating products and invest further in tech to redefine consumer experience. Uni was founded by Nitin Gupta, Prateek Jindal and Laxmikant Vyas who previously held leadership positions in fintech and financial services organizations like PayU, Bajaj Finserv and Ola Financial Services. It had raised a USD 18.5 million seed round (from Lightspeed Ventures and Accel India) in October 2020, while still in stealth mode. It launched its flagship pay later card, Pay 1/3rd, in June 2021.