[Funding alert] Mumbai-based fintech startup ftcash raises Rs 50 Cr from Accion, FMO, and IvyCap Ventures
2 May 2019 5:22 AM GMT
The company said it will be using the new round of funding to accelerate product development and expand into new geographies.
- The company said in a statement that it will be using the new round of funding to accelerate product development and to expand to newer geographies.
- FMO is very pleased to support economic development globally by catalysing the establishment of more stable and inclusive financial systems in emerging and frontier markets," said Ronald Janse, Manager, Private Equity at FMO."Our investment in ftcash represents an opportunity for Accion to continue its work helping financial services platforms leverage partnerships, technology, and data to increase financial inclusion for micro merchants in India," said Radhika Shroff, Deputy Chief Investment Officer of Accion Global Investments.
- We look forward to working closely with the new partners to scale the company to its new heights," said Vikram Gupta, Founder and Managing Partner, IvyCap Ventures.
- Also read: Ex-CFO of Deutsche Bank India starts a mobile platform for cashless transactions for micro merchants