Total amount raised
$1 Millions
Latest funding date
03/01/2022
Location
Salt has successfully raised funding through multiple rounds, with its most recent being a Seed round that closed on January 1, 2025. The company is backed by six investors, including Y Combinator.
Salt's platform simplifies international payments and compliance for businesses, offering products like Inward Remittance and Table Salt: FDI. Keep reading to explore the intricacies of Salt's fundraising journey and the investors backing this innovative platform.
What Is Salt?
Salt, founded in 2021 by Ankit Parasher and Udita Pal, is an international payments platform headquartered in Bengaluru, Karnataka, India. The company operates in the fintech industry, focusing on simplifying global banking and compliance for businesses.
With a team of 11-50 employees, Salt offers products like Inward Remittance and Table Salt: FDI, aiming to provide seamless international payment solutions. The company is dedicated to moving business banking to a digital-first and automated end-to-end platform.
How Much Funding Has Salt Raised?
- Pre-Seed Round
- Amount Raised: $500K
- Date: October 2021
- Lead Investors: Prashant Pansare, Supermorpheus, Vishrut Bubna
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds were used to build the engineering team, develop the product, and add new features according to the product roadmap.
- Seed Round
- Amount Raised: $500K
- Date: March 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funding was likely aimed at expanding their international payments platform and enhancing global banking and compliance solutions.
Total Amount Raised: $1M. Current Valuation: Not publicly disclosed.
Key Investors
- Prashant Pansare
- Details: Prashant Pansare is the founder of Backer Capital, an investment firm focused on early-stage startups. He has a background in supporting innovative fintech solutions.
- Investment Focus Areas: Early-stage investments, fintech, technology
- Notable Investments: Not publicly disclosed
- Supermorpheus
- Details: Supermorpheus is an angel investment group that supports startups and early-stage companies. They are known for backing innovative and disruptive business models.
- Investment Focus Areas: Startups, early-stage companies, technology
- Notable Investments: Not publicly disclosed
- Vishrut Bubna
- Details: Vishrut Bubna is associated with Verak, a company that focuses on technology and fintech investments. He has a keen interest in supporting innovative financial solutions.
- Investment Focus Areas: Technology, fintech, startups
- Notable Investments: Not publicly disclosed
- Amit Goel
- Details: Amit Goel is a former executive at MEDICI, a company specializing in fintech research and advisory. He has extensive experience in the financial services sector.
- Investment Focus Areas: Fintech, financial services, technology
- Notable Investments: Not publicly disclosed
- Y Combinator
- Details: Y Combinator is a renowned startup accelerator that has funded and mentored numerous successful startups. They provide seed funding and support to early-stage companies.
- Investment Focus Areas: Startups, technology, innovation
- Notable Investments: Airbnb, Dropbox, Stripe
What's Next for Salt?
Salt is poised for significant growth, with plans to ramp up hiring and expand its platform's capabilities. The company aims to increase its headcount to about 100 by the end of next year and grow its monthly transactions from $100,000 to $10 million. This expansion is supported by a recent $500,000 funding round, which will be used to enhance product development and build the engineering team.
Future fundraising opportunities seem promising as Salt continues to attract investment to support its ambitious growth targets. The fintech industry is experiencing rapid innovation, and Salt's focus on cross-border payments positions it well to capitalize on this trend. However, the company may face challenges such as navigating regulatory environments and meeting higher customer expectations.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Salt and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
