Signzy Raises $26 Million In Funding From Gaja Capital, Returning Investors
Signzy, a Bengaluru-based digital banking infrastructure provider, has raised Rs 210 crore (or $26 million) in a fresh funding round led by Gaja Capital.
The funding round also saw participation from existing investors Vertex Ventures and Arkam Ventures.
As per the startup, the raised funds will be used to bolster its existing product line and drive the adoption of its platform across banking and financial services clients.
Signzy | Digital Banking Infrastructure Provider
Founded by IIT graduates and serial entrepreneurs Ankit Ratan, Arpit Ratan and Ankur Pandey in 2015, Signzy is an AI-powered platform that offers a digital onboarding solution for banks, NBFCs and other financial institutions.
Its no-code platform GO delivers seamless, end-to-end, and multi-channel onboarding journeys while offering totally customizable workflows. It gives access to an aggregated marketplace of 240+ APIs (application programming interface), helping partner financial institutions with operations such as video know-your-customer (KYC) verification, credit checks, asset authentication and loan collections.
Speaking about the development, Ankit Ratan, Co-founder and CEO of Signzy, said,
“The financial services industry is undergoing a massive and multi-year digital transformation, and we have only seen the tip of the iceberg so far. Signzy has seen strong adoption of its No-code product by financial services companies as they start on their once-in-a-lifetime digital transformation journey.”
Signzy works with over 240 financial institutions globally, including the four largest banks in India. As per the startup, it assists its clients with over 10 million customer and business on-boardings every month.
Commenting on the development, Gopal Jain, Managing Partner of Gaja Capital, said,
“The team at Signzy has really impressed us with their No-code digitalization platform for the financial services industry, which we believe is the first of its kind anywhere in the world and solves real pain points for their customers. Their technology has been enabling banks to undergo rapid transformation without changing the underlying legacy systems.”
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