Total amount raised
$10.3 Millions
Latest funding date
7/1/2022
Location
Hyperface has successfully raised funding through multiple rounds, attracting significant interest from investors such as Global Founders Capital and Flipkart Ventures. The platform specializes in providing innovative credit card solutions, leveraging APIs and behavioral insights to enhance customer engagement and retention.
Keep reading to explore the intricacies of Hyperface's fundraising journey and the investors backing this innovative platform.
What Is Hyperface?
Founded in 2021, Hyperface is a banking-as-a-service startup based in Bangalore, Karnataka, India. The company specializes in helping businesses create and launch their own credit card programs.
Co-founded by Aishwarya Jaishankar and Ramanathan RV, Hyperface offers a comprehensive platform that includes APIs for customer onboarding, card issuance, and account management. Their solutions are designed to enhance customer engagement and retention.
With a team of 101-250 employees, Hyperface continues to innovate in the credit card industry, providing tools like Smart Engage, Credit Pro, Embed Next, and Onboard IQ to streamline and optimize credit card services.
How Much Funding Has Hyperface Raised?
- Pre-Seed Round
- Amount Raised: $1.3M
- Date: October 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their credit card solutions platform.
- 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 further develop their product offerings and expand their team.
- Seed Round
- Amount Raised: $9M
- Date: July 2022
- Lead Investors: 3one4 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their credit cards-as-a-service product and build a strong team.
Total Amount Raised: $10.3M
Current Valuation: Not publicly disclosed
Key Investors
- 3one4 Capital
- Details: 3one4 Capital is an early-stage venture capital firm based in India. They focus on backing companies that leverage technology to solve significant problems.
- Investment Focus Areas: Fintech, SaaS, Consumer Products, Digital Media
- Notable Investments: Licious, Darwinbox, Jupiter, Koo
- Global Founders Capital
- Details: Global Founders Capital is a globally oriented venture capital firm. They invest in technology companies at various stages of growth.
- Investment Focus Areas: Technology, Internet, Software
- Notable Investments: Facebook, LinkedIn, Slack
- Better Capital
- Details: Better Capital is an early-stage venture capital firm that supports technology startups. They are known for their hands-on approach in helping startups scale.
- Investment Focus Areas: Fintech, Edtech, Healthtech, SaaS
- Notable Investments: Open, Teachmint, Khatabook
- Flipkart Ventures
- Details: Flipkart Ventures is the investment arm of Flipkart, one of India's largest e-commerce companies. They focus on strategic investments in technology and e-commerce startups.
- Investment Focus Areas: E-commerce, Technology, Consumer Internet
- Notable Investments: Ninjacart, Shadowfax, BlackBuck
- Groww
- Details: Groww is a fintech company that provides investment platforms for retail investors. They are relatively new to the venture capital scene but are making significant strides.
- Investment Focus Areas: Fintech, Investment Platforms
- Notable Investments: Not publicly disclosed
What's Next for Hyperface?
Hyperface stands at the cusp of a significant opportunity to revolutionize the credit card industry in India. By leveraging their credit cards-as-a-service platform, they aim to drastically reduce the time it takes for businesses to launch credit card programs, from 12-18 months to just a few weeks. This capability not only accelerates credit inclusion but also positions Hyperface as a key player in the embedded finance trend.
With the recent $9 million seed funding, Hyperface is well-poised for future fundraising rounds. The involvement of prominent investors like 3one4 Capital and Flipkart Ventures suggests strong backing for continued growth. However, navigating regulatory changes by the Reserve Bank of India and competing with other fintech companies will be critical challenges. Ensuring seamless API integrations and maintaining product quality as they scale will also be essential for their success.
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