A fintech start-up named Open founded by Keralites has raised ₹250 crore from global venture capital funds like Tiger Global Management, Speedinvest and Beenext.
Open has raised the early stage funds from the ‘Fund of Fund’ scheme of the Kerala Startup Mission (KSUM), under which private funds are invited to be part of the ecosystem by investing in the start-ups with KSUM as a limited partner.
A neo-banking platform for SMEs, Open was founded by Anish Achuthan, Mabel Chacko, Deena Jacob and Ajeesh Achuthan in 2017.
The company specialises in solutions for business banking challenges faced by SMEs and start-ups.
It offers a business account in partnership with banks which helps businesses automate and run their finances effectively.
The funding, raised in two rounds over the last three months, has taken the company’s valuation to ₹1,000 crore.
The other investors in the company include Tanglin Venture Partners Advisors, 3one4 Capital and Better Capital’s AngelList Syndicate.
