It is the first investment from its most recent fund in a cutting-edge fintech business that mid-market private equity firm Xponentia Capital has made. The company led a Rs 146 crore (almost $18 million) fundraising round in fintech startup Zype.
Veteran of the BFSI industry Vivek Vig also took part in the round. The startup has also been mentored by Vig, as per reported by VCCircle.
“We are in the process of building Zype, a customer-first platform where we intend to offer credit products and interactive money management tools,” said Yogi Sadana, founder and chief executive of Zype.
The business intends to use the money to make significant investments in its technology stack, employ personnel for a variety of roles, and for go-to-market activities in the upcoming months.
“The future of fintech in India looks robust and with the Zype management team’s experience in technology, risk management, finance and payments, we are confident that Zype will play a key role in the fintech industry,” said P.R. Srinivasan, managing partner of Xponentia Capital.
About Xponentia Capital
Xponentia Capital was set up to address the paucity of capital in the Indian mid-market corporate sector. Inspite of having dynamic and enterprising entrepreneurs who are building world class businesses, this segment of the Indian market has traditionally been faced with a dearth of capital providers – both debt and equity.