Private Equity

PE Fund Investments

Fintect co Modifi raises $15-M led by SMBC Asia Rising Fund

Inc42   Modifi   Modifi  

Amsterdam- and Mumbai-based small and medium enterprises-focussed fintech startup Modifi has raised USD 15 million (INR 126 crore) led by SMBC (Sumitomo Mitsui Banking Corporation) Asia Rising Fund. The round also saw participation from existing investors Maersk, Intesa SanPaolo and Heliad. The investment will be used to strengthen digital solutions to support SME exporters across Asia in expanding their international trade operations.Founded in 2018, Modifi offers a platform for business payments and trade management to help SMEs with cross-border trade. It has branches across North America, Europe and Asia.