Cross-border Fintech Platform LeRemitt Raises Seed Funding
LeRemitt, a fintech startup facilitating cross-border transactions, has raised $1.25 million (Rs 10.2 crore) in a seed funding round led by Axilor Ventures.
The funding round was led by Axilor Ventures, with participation from Capital A and angel investors like Ram Govindarajan (Wizfreight) and Sumit Agarwal (Vyapar).
As per the startup, the freshly raised funds will be used for hiring talent, global expansion, improving product capabilities, and strategic partnerships.
LeRemitt | Cross Border Platform
LeRemitt, co-founded by Sheetal Jain, Mahesh Kumar Barate and Hari Ambati, is a cross-border platform that simplifies international trade.
The cross-border fintech startup streamlines financial transactions aimed at micro, small and medium enterprises (MSMEs) by helping them navigate overseas financial transactions by providing a platform that ensures easy and prompt international remittances.
Speaking about the development, Mahesh Kumar Barate, Co-founder of LeRemitt,
“Traditional remittance methods are burdened with high costs, slow processing times, and limited accessibility. These obstacles particularly impact MSMEs, which often lack the resources to navigate complex financial systems, leading to time-consuming operational hurdles on a day-to-day basis. LeRemitt aims to reinvent cross-border business transactions, ensuring hassle-free and prompt international remittances.”
The startup serves as a vital link between businesses and the global markets, empowering MSMEs with secure and reliable payment solutions, dedicated support, streamlined processes, and valuable trade intelligence to thrive in the increasingly competitive international trade landscape.
In other funding news, OneStack, a Gurugram-based fintech startup, raised $2 million in pre-series A funding to expand the team, drive growth, and fund innovation to strengthen its product offerings. Similarly, Scapia, a credit card and travel rewards platform, raised $9 million in seed funding to scale operations and invest in tech capabilities.
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