Singapore-dependent fintech platform Volopay on Tuesday said it has lifted $29 million from Winklevoss twins — Cameron and Tyler — along with a world decacorn and other people to enter the Indian industry.
The Y Combinator-backed corporate playing cards and payable administration start off-up elevated cash in Sequence A in a blend of equity and personal debt.
Volopay claimed that it will now expand in the complete APAC area, alongside with the MENA expansion, just after firmly putting itself into the Singaporean and Australian marketplaces.
“With India churning out many unicorn-stage enterprises each yr, it is indeed building a large wave on the global frontier. And this is only the starting,” explained Rajith Shaji and Rajesh Raikwar, Co-founders, Volopay.
“Accelerating their expansion would have to have an productive price management software that is simple but scalable, a thing that Volopay has normally aimed for,” they added.
The funds will also be utilised for building and innovating new systems to enhance their existing products.
The round also incorporated participation from JAM Fund, Winklevoss Capital Management, Accial Funds, Rapyd Ventures, fintech veterans Jeffrey Cruttenden — CEO of Acorns, Sweta Rau – Founder of White Ventures, Amrish Rau — CEO of Pine Labs and Jitendra Gupta – Founder and CEO of Jupiter, alongside with Antler Global and VentureSouq.
“Volopay’s foray into the Indian current market will tackle exactly the challenge said earlier mentioned by giving organizations with multi-currency wallets to hold income in their base currency rupee and any main forex and subsequently use it for payouts,” mentioned Shaji.