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HomeInsightFunding Alert Fintech platform PaySprint raises Seed capital funding

[Funding alert] Fintech platform PaySprint raises Seed capital funding

Fintech platform PaySprint
Fintech platform PaySprint

PaySprint, fintech platform, has raised seed capital funding from Fino Payment Bank. Fino is acquiring a 12.19 percent stake in PaySprint.

Founded in 2020, at PaySprint they are pioneering strong partnerships with the banking ecosystem and provide Unified Open API Platform to banks and fintechs.

PaySprint offers developers the ability to build a vast number of use cases leveraging their REST API’s and Entrepreneur’s, Startup companies, Banking partners, NBFCs, MSME’s & Enterprises to deploy these solutions.

Rishi Gupta, the MD & CEO of Fino Payments Bank, said, “We are now partnering with new age technology companies that will transform the digital banking space in the days to come.”

S Anand, the co-founder and CEO of Paysprint, said, “At PaySprint, we are extremely delighted to partner with Fino Payments Bank and synergise our technical expertise to innovate and create new banking products and solutions that will lead to larger consumer adoption, interface and delight & transform how Bharat transacts”.

Ashish Ahuja, the Chief Operating Officer of Fino Payments Bank, said, “As a Bank, our focus is to deliver superior and secure customer service at the last mile and innovate on scalable banking and payments solutions. In order to add more use cases for our customers within our ecosystem, we fall back to our DTP (Distribution, Technology and Partnership) philosophy of partnering with new age technology companies that can deliver the best solutions”.

FY22 was the first full year of operations for PaySprint and it achieved an annual GMV of Rs 5,500 crore. The strong growth momentum is expected to continue in FY’23 as well. It also onboarded more than 600 partners across banks, NBFCs, MSMEs, fintechs and various other startups during the year, according to The Free Press Journal.

About PaySprint :

The Year 2020 saw India and Bharat coming to age on digital payments both on payments and acceptance. This has been purely been possible through JAM – JanDhan Accounts, Aadhar & Mobile/smartphone penetration. Keeping the above 3 as core and the need for better, faster & easier technological solutions, led to the birth of PaySprint in 2020.

At PaySprint, they are pioneering strong Partnerships with the Banking ecosystem and provide Unified Open API Platform that would transform how Bharat transacts and leads to larger Consumer Adoption, Interface and Delight.

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