In a pre-series-A fundraising led by Quona Capital, Upswing Financial Technologies, a fintech startup, secured $4.2 million.
The round was additionally joined by QED Investors, who are already investors in the company, as reported by The Economic Times (ET).
Read also – Fire-Boltt Partners With Swiggy Instamart
“This funding marks a pivotal moment towards our aim to become an ecosystem player providing consumer-centric solutions as well as the right compliance and security infrastructure while we enable companies to ubiquitously offer financial services,” Nihar Gupta, founder of Upswing said.
The funding will support the Bengaluru-based startup’s efforts to develop new lending and deposit-related products and to broaden the appeal of the company’s multi-bank saving offering. The news was first reported by The Economic Times | Tech (ET).
“The team’s vision aligns seamlessly with our commitment to supporting innovative ventures that increase access to financial services. The team has a deep understanding of financial systems and the regulatory environment,” Varun Malhotra, partner at Quona Capital, commented.
With their secure, scalable, and user-friendly API platform, Upswing aims to provide financial institutions with a wider reach while enabling consumer enterprises to offer unique financial products.