Total amount raised
₹440 Millions
Latest funding date
04/01/2021
Location
SafexPay has successfully raised funding through a "Venture - Series Unknown" round, with notable investors including T Choithrams BVI and TIDES Business Incubator. The company focuses on providing platform and API infrastructure for businesses globally.
Keep reading to explore the intricacies of SafexPay's fundraising journey and the investors backing this innovative platform.
What Is SafexPay?
SafexPay, founded on April 1, 2017, is a prominent player in the FinTech and payments industry. Based in Thane, Maharashtra, India, the company was established by Ravi Gupta and currently employs between 251-500 people.
Specializing in B2B2B fintech solutions, SafexPay offers a comprehensive platform and API infrastructure for businesses globally. Their services include API integration, checkout solutions, B2B payment management, white-label solutions, CRM and onboarding platforms, and financial dashboards.
How Much Funding Has SafexPay Raised?
- Amount Raised: ₹440M (approximately $6M USD)
- Date: April 2021
- Lead Investors: T Choithrams BVI, Ardor Advisors
- Valuation at Round: $100 million
- Motivation Behind the Round: The funds were raised to support product development, improve technology for more use cases, and launch products in India and abroad.
Total Amount Raised: $6M USD. Current Valuation: $100 million.
Key Investors
- T Choithrams BVI
- Details: T Choithrams BVI is an Indian family now based overseas. They invested $3 million in SafexPay.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: SafexPay.
- Ardor Advisors
- Details: Ardor Advisors is an American investor. They signed a definitive agreement to invest $3 million in SafexPay.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: SafexPay.
- TIDES Business Incubator
- Details: TIDES Business Incubator is a notable investor in SafexPay. Specific details about the organization are not provided.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: SafexPay.
What's Next for SafexPay?
SafexPay is poised to capitalize on significant opportunities in product development and technology enhancements, aiming to launch new products both in India and abroad. With a recent $6 million funding round, the company is well-positioned to expand its offerings and improve its technological infrastructure.
Looking ahead, SafexPay plans to raise an additional $20 million within the next four months, targeting a valuation of $150 million. This future fundraising will support their ambitious growth plans and help them navigate the competitive fintech landscape.
However, challenges such as high resource requirements for marketing and sustaining profitability while expanding could pose hurdles. The competitive nature of the fintech industry, particularly in digital payments and lending, will require strategic planning and execution.
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