Private Equity Fund Investments
Neobank Open has raised $62-M from Temasek, Google: report
Bengaluru-based Neobanking platform Open Financial Technologies has raised INR 455.7 crore (about $62 million) from new investors Temasek (via Arvon Investments) and Google (via Google International) with participation from existing investors such as Tiger Global and 3ONE4 Capital. Temasek has put in $35 million followed by Google ($15 million), Tiger Global ($7.5 million) and 3ONE4 ($5 million). Open offers digital banking services such as current account services, credit cards, debit cards, payments, accounting and expense management in partnerships with banks for startups and small and medium enterprises (SMEs).
From the Venture Intelligence PE-VC Deal Database: Between May-2018 and Jun-2019, Open had raised over USD 35 M from Speedinvest, Tanglin Venture Partners, 3ONE4 Capital, Tiger Global, Beenext, Unicorn India Ventures, Recruit Strategic Partners and Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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