South Asia fintech funding round-up: Twid, Jify, OneLoad and Bluecopa
This week’s handy Friday funding round-up includes four South Asian fintech start-ups – Twid, Jify, OneLoad and Bluecopa.
Indian rewards-based payment platform Twid has raised $12 million in its Series A funding.
The round was led by Rakuten Capital, with participation from Google, JAFCO Asia, January Capital, ICMG Partners, Reddy Futures Fund and existing investors Beenext and Sequoia India’s Surge.
Twid plans on using the fresh capital to grow its network and expand its business while also hiring for roles in its team.
Founded in 2020 and headquartered in Bengaluru and Singapore, Twid helps users redeem loyalty points and rewards earned from credit and debit cards, retail and online brands and travel in order to make payments.
In July last year, Twid raised $2.5 million in funding led by Beenext and Sequoia’s Surge.
Mumbai-based start-up Jify has secured $10 million in Series A funding from Accel and Nexus Venture Partners.
Jify says it will use the new funds to develop its product offering, accelerate customer acquisition and create awareness to drive its adoption among users.
Founded in 2021, Jify aims to build “financial resilience” for employees by allowing them to access their earnings on-demand, so people don’t have to fall back on high-cost credit or borrowings.
Pakistani fintech OneLoad has secured $11 million in funding, in a round led by Sarmayacar and Shorooq Partners, an Abu Dhabi-based venture capital firm.
OneLoad says it secured financial capital from the Bill & Melinda Gates Foundation last year and also received additional funding recently.
The company intends to use the latest funding to support expansion of its business, launch multiple new products and expand services in the unbanked Pakistani market.
Indian fintech firm Bluecopa has secured $2.3 million in seed funding. The round was led by Blume Ventures, with participation from Titan Capital, T-Fund, Speciale Invest, Bharat Founders Fund, T2D3, Amplify and Force Ventures.
Bluecopa is a finance operations platform built for finance teams in high-growth companies.
The platform, with an excel-like interface, automates day-to-day finance operations such as data consolidation, business planning, scenario modelling, variance analysis, intelligent alerts, reconciliations and more.
Bluecopa says it helps chief financial officers (CFOs) and finance leaders reduce data-to-decision cycles with a real-time view of business KPIs and variance alerts providing day-to-day business observability.
“We aim to accelerate the digitisation of the finance function to manage scale and complexity seamlessly. In the long term, our vision is to rebuild the entire CFO tech stack and empower finance professionals to focus on strategic aspects,” the company says.