Thursday, September 29, 2022
HomeInsightFunding Alert Fintech startup Backspace Tech raises $450 K in pre-seed round

[Funding alert] Fintech startup Backspace Tech raises $450 K in pre-seed round

[Funding alert] Fintech startup Backspace Tech raises $450 K in pre-seed round

Fintech startup Backspace Tech has raised $450K in pre seed funding round from Mohan K, Jai Kumar, Omar Bin Brek, along with M2P founders and other angel Investors.

The startup plans to use the funds for its technology stack, team expansion and its go-to market strategy.

The Chennai-based Backspace Tech was founded in 2020 by Praveen Krishna Dev, Vishwanath Vijayan and Karthik Sivaram V, It provides SaaS products for financial institutions to resolve disputes and chargebacks on UPI and card payments.

Read also – [Funding alert] Burger Singh raises Rs 30 Cr in series A round

The startup said its solutions will help banks and fintech platforms reduce their efforts on customer support and retail branches to settle disputes.

“Globally the banking system is depended on very few products available and the current fundraise will help the company to kick start its vision of building banking as a service (BaaS) including disputes, lending and other core banking products”, said, Praveen Krishna Dev, co-founder of Backspace Tech.

Some of the major banks have been linked to startups in case of priority adoption of UPI disputes and card disputes in future.

Mohan K, Co-founder and CEO, IppoPay said, “There is a huge gap in UPI & Cards dispute management. Backspace Tech is exactly solving the pain point on Chargebacks & Disputes through technology, which made me excited.”

Read also – [Funding alert] Edtech Startup Creative Galileo raises $7.5 mn in Series A round

About Backspace Tech

Fintech Startup working towards bringing an easier way of Banking products into SaaS market.

Their first product for the Chargeback and Disputes Management could help Financial Institutes like Banks and Acquirers to handle with any volume. Their platform is setup with major framework pre-designed and providing business users configurable rules for case management.

Easiest and fastest application development from Customizing to implementation with low cost on maintenance.



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