Bengaluru-based modern transaction credit platform Hyperface has closed a $9 million seed funding round led by 3one4Capital.

Existing investors, including Better Capital and Global Founders Capital, and new investors Flipkart Ventures, Groww, and Rebalance Angel Community, also participated in the funding round.

As per the startup, the raised funds will be used to strengthen its credit-cards-as-a-service product and build a strong team. 

Hyperface | Modern Credit Card Platform For Co-branded Cards

Founded by Ramanathan RV and Aishwarya Jaishankar in 2021, Hyperface is a one-stop destination to launch and custom-build the perfect Pay Later and Credit Card program in a matter of weeks.

The startup empowers brands and fintechs to offer banking products contextually to their customers and is designed to simplify the launch of credit cards and pay later issuance at scale. 

Speaking about the development, Ramanathan RV, Co-founder and CEO of Hyperface, said,

“Hyperface is deeply committed to the idea of embedded finance and to accelerate credit inclusion in India. We feel very fortunate to have partnered with 3one4 capital, Flipkart Ventures, Groww, and others in a journey towards the next big evolutionary change in the financial services landscape.”

As per Hyperface, for businesses, the launch of a credit card programme today takes somewhere up to 12-18 months. The Bengaluru-based claims to take away all the technical grunt work of backend API integrations and red tape to reduce time-to-launch 10X. 

Recently, Hyperface launched the AU LIT card, a customisable credit card in partnership with AU Bank, powered by the Hyperface Smart benefits engine. It is a proprietary innovation that allows credit card issuers and cobrands to construct the right value proposition for their customers.

Commenting on the development, Aishwarya Jaishankar, Co-founder of Hyperface, said,

“With under 5 percent customers in India having credit cards and the growing trend of embedded finance, co-branded credit cards are here to stay, and we aim to empower banks and brands with the right and compliant technology to launch and scale them.”

Follow us and connect with us on Instagram, Facebook, Twitter, and LinkedIn.

Note: If you are a budding entrepreneur and require assistance in new company registration or other startup related legal services, contact us.