Top

Lightspeed backs fintech startup floated by former Aspada, IndiaStack execs

Lightspeed backs fintech startup floated by former Aspada, IndiaStack execs

  • Venture capital firm Lightspeed India Partners has led a $3.5-million (Rs 24.5 crore) investment in Setu, a fintech application programming interface (API) infrastructure startup.
  • Except for payments, banking infrastructure hasn't upgraded at the same pace," said co-founder Kini in the statement, "For India's economy to achieve its full potential, a wholesale redesign and API access to financial products is critical," he added.
  • Last year saw some big ticket deals in the broader fintech space, including PolicyBazaar's $238-million cheque from SoftBank and others, LendingKart's $87-million round led by Fullerton, ClearTax's $54-million round led by Hong Kong-based Composite Capital, Digit Insurance and InstaReM's $45-million (each) cheques, and INDwealth's $30-million funding round from Hong Kong-based hedge fund Steadview Capital.
  • Until then, it was investing out of its global fund although Lightspeed continues to make late-stage investments from that vehicle.


Share it
Top
To Top