Fintech Startup Safexpay raises funding of $6M

Safexpay, a four-year-old B2B fintech startup, on Thursday said it has raised $6 million (about Rs 44 crore) in funding from two investors-T Choithrams BVI and Ardor at a valuation of $ 100 million. The funds will be used for product development, improving technology for more use cases, and also product launches in India and abroad, he added.

The company provides white label payment gateways, white-label neo-banking platform, white label QR Code management tool, Payout API, and customized payment solutions to banks and other financial sector participants.

Ravi Gupta, the company's founder, and director stated that the company has a team of 100 people now, up from 40 in September 2020, and has been delivering profits for the last two years. The company is also targeting to raise another round of funding in the next four months, with an infusion of up to $20 million.

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