FPL Technologies raised $10 mn led by Matrix India, Sequoia

Fintech startup FPL Technologies has raised $10 mn led by Matrix India and Sequoia in its Series A round which also saw the participation of Hummingbird Ventures along with a few angel investors.

“We will use the new capital to grow our team, scale the issuance of OneCard and also build new consumer and merchant experiences on the product,” says Sinha, adding that the company seeks to “consumerise” the credit card market where 75% of the share is held by four predominant lenders.

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