Total amount raised
$10.3 Million
Latest funding date
7/1/2022
Location
Hyperface has successfully raised funds across three rounds, with recent investments from Global Founders Capital and Flipkart Ventures. The platform specializes in helping companies create and launch their own credit cards, offering a modern, digital-native solution for banks.
Keep reading to explore the intricacies of Hyperface's fundraising journey and the investors backing this innovative platform.
What Is Hyperface?
Hyperface is a banking-as-a-service startup based in Bangalore, Karnataka, India. The company operates in the Banking, Financial Services, FinTech, and Information Technology industries, helping companies create and launch their own credit cards.
Founded with a mission to enhance customer engagement and ROI for banks, Hyperface offers a range of products including Smart Engage, Credit Pro, Embed Next, and Onboard IQ. The company employs between 101-250 people, emphasizing compliance and modular technology to provide scalable solutions for financial institutions.
How Much Funding Has Hyperface Raised?
- Seed Round
- Amount Raised: USD 9,000,000
- Date: July 2022
- Lead Investors: 3one4 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen Hyperface's credit cards-as-a-service product and build a strong team.
- Pre-Seed Round
- Amount Raised: USD 1,300,000
- Date: October 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To simplify the launch of credit cards and pay later issuance at scale.
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product innovation and business development.
Total Amount Raised: USD 10,300,000. Current Valuation: Not publicly disclosed.
Key Investors
- 3one4 Capital
- Details: 3one4 Capital is a venture capital firm that focuses on early-stage investments in India. The firm is led by Managing Partner Pranav Pai.
- Investment Focus Areas: Technology, fintech, consumer sectors
- Notable Investments: Licious, Darwinbox, Jupiter
- Global Founders Capital
- Details: Global Founders Capital is a global venture capital firm that invests in technology companies at various stages of development. They have a broad investment portfolio across multiple sectors.
- Investment Focus Areas: Technology, consumer, various stages
- Notable Investments: Facebook, LinkedIn, Slack
- Better Capital
- Details: Better Capital is a venture capital firm that invests in early-stage startups in India. They focus on supporting innovative and scalable business models.
- Investment Focus Areas: Fintech, SaaS, consumer internet
- Notable Investments: Khatabook, Teachmint, Open
- Flipkart Ventures
- Details: Flipkart Ventures is the investment arm of Flipkart, focusing on strategic investments in technology and e-commerce. The firm is led by Senior Vice-President Ravi Iyer.
- Investment Focus Areas: Technology, e-commerce, fintech
- Notable Investments: Ninjacart, Shadowfax, BlackBuck
- Groww
- Details: Groww is an investment platform that allows users to invest in mutual funds, stocks, and other financial products. They are a new investor in Hyperface.
- Investment Focus Areas: Fintech, investment platforms
- Notable Investments: smallcase, INDmoney, Jupiter
What's Next for Hyperface?
Hyperface stands at the cusp of significant growth, driven by the burgeoning demand for embedded finance and credit inclusion in India. With less than 5% of the population holding credit cards, the market potential is vast. The recent $9 million funding round will enable Hyperface to enhance its credit cards-as-a-service product and expand its team, positioning the company to capitalize on this opportunity.
Future fundraising appears promising, given the strong investor confidence demonstrated in the latest round. As Hyperface scales, additional funding rounds could support further product innovation and market expansion. However, the company must navigate regulatory challenges and intense competition from other fintech firms and traditional financial institutions.
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