Millennials-focused lender Zype raises $18-M led by Xponentia Capital

Mid-market private equity firm Xponentia Capital has led an INR 146 crore (about USD 18 million) funding round in Mumbai-based fintech startup Zype. The round also saw participation from Vivek Vig, a BFSI sector veteran. The firm aims to use the funds to invest in technology, hire talent across functions and for go-to-market operations. Zype aims to improve access for credit for millennials and help them develop sustainable financial habits. It is likely to be launched next year.