Volopay raises $29 mn, to expand to India
Singapore-based fintech platform Volopay on Tuesday said it has raised $29 million from Winklevoss twins -- Cameron and Tyler -- along with a global decacorn and others to enter the Indian market.
image for illustrative purpose
New Delhi: Singapore-based fintech platform Volopay on Tuesday said it has raised $29 million from Winklevoss twins -- Cameron and Tyler -- along with a global decacorn and others to enter the Indian market.
The Y Combinator-backed corporate cards and payable management start-up raised funds in Series A in a mix of equity and debt.
Volopay said that it will now expand in the entire APAC region, along with the MENA expansion, after firmly placing itself into the Singaporean and Australian markets.
"With India churning out several unicorn-level enterprises every year, it is indeed making a big wave on the global frontier. And this is only the beginning," said Rajith Shaji and Rajesh Raikwar, Co-founders, Volopay.
"Accelerating their growth would require an efficient expense management tool that is simple yet scalable, something that Volopay has always aimed for," they added.
The funds will also be utilised for building and innovating new technologies to complement their existing product.
