Private Equity Fund Investments
Neobank Open ups Series C round size to $100-M
Bengaluru-based neobanking startup Open has increased the size of its Series C round to USD 100 million (up from the USD 62 million attracted in September). The round was led by Temasek and joined by Google's investment unit (CapitalG) and SBI Investment and saw the participation of existing investors Tiger Global and 3ONE4 Capital. Open plans to use the funding to further strengthen and accelerate its new product lines. It will also expand its base to 5 million SMEs and expand to global markets like South East Asia, Europe and the US.
From the Venture Intelligence PE-VC Deal Database: Between May-18 and Sep-21, Open Financial Technologies had raised more than INR 700 crore from Speedinvest, Tanglin Venture Partners, 3ONE4 Capital, Tiger Global, Temasek, CapitalG, Beenext, Unicorn India Ventures and Recruit Strategic Partners.
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