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Spense, a startup building programmable banking and card infrastructure, has raised $1.85 million in its pre-seed funding round led by GrowthCap Ventures.
The round also saw participation from Kunal Shah (founder, CRED), Sayandeb Banerjee (co-founder, The Math Company), Suresh Rayasam (Head of Applied AI for GTM), Ravi Sudhakar (Director, AI Global Business Strategy, Microsoft).
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The funds will be used to bring more banks on board, build more fintech partnerships, and improve the product and technology to support more services beyond just credit cards.
About Spense
Founded in 2022 by Pawan Kumar and Srinivas Krishnamurthy, Spense offers infrastructure for secured credit cards, prepaid cards, and forex programs.
It helps financial institutions launch new credit products by handling regulations and system integration.
Regulated companies use Spense to quickly launch and manage secured credit programs. The platform also works with older systems and makes audits easier.
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