Total amount raised
$38.3 Million
Latest funding date
9/1/2022
Location
Signzy has successfully raised funds through 11 funding rounds, with the latest being a Series B round led by Gaja Capital. The company is backed by a total of 18 investors, including Arkam Ventures and 8i Ventures.
Keep reading to explore the intricacies of Signzy's fundraising journey and the investors backing this innovative platform.
What Is Signzy?
Signzy is an AI-powered FinTech company that provides digital onboarding solutions for banks, NBFCs, and other financial institutions. The company is located in Bengaluru, Karnataka, India, and has between 251-500 employees. Signzy operates in various industries, including AI, compliance, financial services, FinTech, risk management, and software.
Additionally, Signzy specializes in global identity verification and compliance solutions. Their services include identity verification, business verification, background checks, credit monitoring, and fraud detection. The company is recognized for its innovative solutions and has received various certifications and awards for its contributions to the fintech and compliance industries.
How Much Funding Has Signzy Raised?
- Series A
- Amount Raised: $3,600,000
- Date: November 2018
- Lead Investors: Kalaari Capital, Stellaris Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and development of its digital banking infrastructure solutions.
- Series Unknown
- Amount Raised: $600,000
- Date: May 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's digital onboarding solutions.
- Series Unknown
- Amount Raised: $5,400,000
- Date: October 2020
- Lead Investors: Arkam Ventures, Mastercard
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the expansion of Signzy's AI-powered digital onboarding solutions.
- Series Unknown
- Amount Raised: $3,000,000
- Date: December 2020
- Lead Investors: Vertex Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and enhance the company's product offerings.
- Series B
- Amount Raised: $26,000,000
- Date: September 2022
- Lead Investors: Gaja Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To boost Signzy's product portfolio and drive greater adoption of its platform by global banking and financial services customers.
Total Amount Raised: $38,600,000. Current Valuation: Not publicly disclosed.
Key Investors
- Gaja Capital
- Details: Gaja Capital is a private equity firm that focuses on investing in mid-market companies in India. They led the Series B funding round for Signzy.
- Investment Focus Areas: Education, financial services, consumer, healthcare.
- Notable Investments: LeadSquared, EuroKids, Kangaroo Kids.
- Vertex Ventures
- Details: Vertex Ventures is a global network of venture capital funds that invests in early-stage to growth-stage companies. They participated in multiple funding rounds for Signzy.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Grab, PatSnap, FirstCry.
- Arkam Ventures
- Details: Arkam Ventures is a venture capital firm that invests in early-stage technology companies in India. They have been involved in several funding rounds for Signzy.
- Investment Focus Areas: Financial services, healthcare, consumer technology.
- Notable Investments: KreditBee, Rupeek, Jai Kisan.
- 8i Ventures
- Details: 8i Ventures is a venture capital firm that focuses on early-stage investments in technology-driven companies. They are one of the recent investors in Signzy.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Mastercard
- Details: Mastercard is a global payments technology company that connects consumers, financial institutions, merchants, governments, and businesses worldwide. They participated in the Series Unknown round for Signzy.
- Investment Focus Areas: Financial services, technology, payments.
- Notable Investments: Not publicly disclosed.
What's Next for Signzy?
Signzy stands at the cusp of significant growth opportunities, driven by its innovative 'No-code' AI platform and strategic partnerships with major financial institutions. The company is poised to expand its product portfolio and increase the adoption of its platform among global banking and financial services customers. With a recent $26 million funding round, Signzy is well-positioned to leverage its patents and innovations, including banking in the metaverse, to transform the financial services industry.
Future fundraising opportunities appear promising as Signzy continues to attract interest from existing and new investors. The company's strong market position and ongoing digital transformation efforts in the financial sector suggest potential for further investments and strategic partnerships. However, challenges such as competition from other fintech companies, regulatory compliance, and integration with legacy systems may pose hurdles along the way.
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