Tech Infrastructure Platform Hypto Raises $3M In Seed Funding
Hypto, a tech infrastructure platform focused on deconstructing financial products for developers, has raised $3 million in a seed round led by Stellaris Venture Partners.
The funding round also saw participation from 3one4 Capital, Core 91 and prominent angel investors, including Amrish Rau (CEO, Pine Labs) and Jitendra Gupta (CEO, Jupiter).
The startup plans to utilise the raised capital to expand its technology team and build web services to serve and support fresh financial use cases for technology businesses.
Hypto | De-constructing Finance Into Its Primitive Components
Founded in 2018 by Aravind Sriraman, Abhishek Rajagopal, and Tholkappiyan Velavan, Hypto is building the next generation of web services that democratize access to finance for developers and businesses. The startup is helping developers build products by powering any financial use case with its tech infrastructure as a service.
Speaking on the development, Abhishek Rajagopal, Co-founder of Hypto, said,
“We are breaking down finance into its fundamental components to create a new generation of highly accessible, scalable and low latency web services that power all financial use cases. We are also open-sourcing our connections to centralised financial institutions and decentralised networks. By open-sourcing this connectivity layer, we are welcoming a global community of the sharpest people to collaborate and solve the toughest problems in finance.”
Hypto is removing critical bottlenecks existing in legacy systems by unbundling the tech stack that bridges banks, financial institutions, and customers into elementary components.
The startup launched its payments stack in March 2020 and has been working with 10+ banks and 2,000+ businesses to automate their payments and reconciliation processes. As per the startup, it has processed over 55 million transactions totalling over $15 billion in 18 months, making it one of the largest payment processors in India.
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