India’s Signzy raises $26m in Series B funding round
Indian digital onboarding tech provider Signzy has raised $26 million from Gaja Capital and existing investors Vertex Ventures and Arkam Ventures in a Series B funding round.
The Bengaluru-based software-as-a-service (SaaS) company intends to use the fresh capital to enhance its platform and drive greater adoption of its services in international markets.
Founded in 2015, Signzy provides financial institutions with digital services for onboarding customers and businesses via its no-code platform, GO. It claims to enable over 10 million onboardings every month.
The company currently works with over 240 financial institutions globally, including the four largest banks in India and a top acquiring bank in the US. It also has partnerships with Mastercard and Microsoft.
“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,” says Ankit Ratan, CEO of Signzy.
The company says it has filed eight patents so far in the US, and nine in India, for its technology.