Corporate expense management startup Enkash raised $20 million in funding led by Ascent Capital where Baring India Private Equity Partners and Singapore-based White Ventures with
other existing backers Mayfield India and Axilor Ventures also participated.
EnKash is a full-service commercial payments platform. The capital will be used to expand the firm's offerings around banking-as-a-service, as well as to scale up its 'plug and play' card issuance stack and geographical presence. Enkash has approximately 70,000 businesses and 500,000 cards in circulation.