Signzy, a provider of digital banking infrastructure, has secured Rs 210 crore (or $26 million) from investors grouped around Gaja Capital to fund its growth strategy.
Vertex Ventures and Arkam Ventures, two current investors, also took part in the round, according to Bengaluru-based Signzy.
The company stated that it will utilise the funds to expand its current product line and promote platform usage among clients in the banking and financial services industries.
“Signzy has seen strong adoption of its no-code product by financial services companies as they start on their once-in-a-lifetime digital transformation journey, The solution has been developed from the ground up to allow banks and financial services providers to roll out and offer fintech-like user experiences in a matter of days, not months or years. We are also thrilled that Gaja Capital has come on board in support of our vision”, said Ankit Ratan, cofounder and chief executive officer, Signzy.
Signzy is a market-leading platform that was founded in 2015 by Arpit Ratan, Ankit Ratan, and Ankur Pandey. It is transforming the speed, accuracy, and experience of how financial institutions are onboarding clients and clients using the digital media.
“The team at Signzy has really impressed us with their no-code digitalisation platform for the financial services industry, which we believe is the first-of-its-kind anywhere in the world and solves real pain points for their customers, Their technology has been enabling banks to undergo rapid transformation without changing the underlying legacy systems”, said Gopal Jain, managing partner, Gaja Capital.
Every month, according to Signzy, it helps its clients onboard over 10 million new customers and clients. The start-up collaborates with more than 240 financial institutions worldwide, including India’s four biggest banks.
It works with over 240+ FIs globally including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and has a strong global partnership with Mastercard and Microsoft. The company’s product team is based out of Bengaluru and it has a strong presence in Mumbai, New York, and Dubai.
The company’s award-winning no-code GO platform delivers seamless, end-to-end, and multi-channel onboarding journeys while offering totally customizable workflows. It gives these players access to an aggregated marketplace of 240+ bespoke APIs that can be easily added to any workflow with simple widgets.