Fintech lender ftcash raises Rs 50 crore in Series A funding-round
2 May 2019 6:14 AM GMT
The new round of funding will be used to accelerate product development and expand into new geographies, the company said
- Fintech startup ftcash raised Rs 50 crores in a Series A funding-round led by global non-profit Accion, Dutch development bank FMO and VC fund IvyCap Ventures.
- The company, founded by Chandak, Deepak Kothari and Vaibhav Lodha in 2015, provides cash advances to micro merchants.
- Chandak said that was inspired by the large potential of micro, small and medium enterprises (MSMEs) and their role in growth of the economy, evident from his days at Deutsche Bank and Capital One.