ADVERTISEMENT

Singzy Secures 5.4 Million USD in the Latest Fundraise
S

The fintech startup, Singzy, secures 5.4 million USD from Arkam Ventures and Mastercard. The company states that it would use the latest infusions to enhance its AI research, products, and sales team to address the spike in Indian clients worldwide.

Singzy (1), the Beglaru-based ‘no-code AI platforms’ announced that it had secured fresh funding rounds worth 5.4 million USD from Akram Ventures and Mastercards. Kalaari Capital and Stellaris Venture Partners, its existing investors, also participated in the current fundraising. 

As per the company statement, Singzy would use the fresh funds to strengthen its AI research, ramping up its products and sales team to address the high demand from clients in India and worldwide.

Three IIT graduates and serial entrepreneurs, Ankit Ratan, Ankur Pandey, and Arpit Ratan, founded Singzy in 2015. The startups aim to help financial services to automate risk and compliance processes. The company claims to get massive demands from the globe for its solution, given the ongoing pandemic situation.

 

Singzy to Scale-Up its AI Capabilities with Fresh Tranche

Commenting on the latest fundings, the Co-founder of Singzy, Ankit Ratan, stated that the ongoing pandemic had accelerated digitalization in the financial sector. Moreover, it has also increased the demand for no-contact solutions. He also emphasized that the decisions that needed years to finalize are now getting closed in a quarter.  

Ankit further added that the team had worked hard to keep up with the growing demand. The latest fundraising is a timely boost to enhance our AI capabilities and tap the ever-increasing market opportunity. Notably, the firm would use fresh tranche to deepen its customer engagement.

Bala Srinivasa, the MD of Arkam Ventures, stated that Some of the largest financial service providers and banks across India and the world are adopting the Singzy solutions because of its cutting-edge technology and value proposition. The team is excited to support this exceptional firm as they expand their product portfolio and accelerate global expansion. 

The startup offers digital KYC solutions to more than 100 banking and financial services across the globe. Singzy also provides its solutions to India’s four largest banks and top 3 banks in the USA, including SBI, State Bank of India, and ICICI Bank, among others. Moreover, the company also has a strong tie with Mastercards and has offices located in New York and Dubai to serve its clients in the locations. 

+ posts

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

Note: If you buy something via a link on this page, we might earn a small commission on it.

Rucha Joshi
Rucha Joshi
Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Leave A Reply

Please enter your comment!
Please enter your name here

related stories

Ola Electric announced the acquisition of Etergo BV. Ola Electric has also announced its entrance into the premium electric two-wheeler market

Is Etergo’s acquisition brewing trouble for Investors?

0
Ola Electric Mobility Pvt Ltd had announced (1) the acquisition of Etergo, the Amsterdam-based electric scooters company. Ola Electric aims to leverage the design and...
From a website that only offered menu details to a full-fledged food ordering app, Zomato's rise has been rocking the birth of a new industry.

Zomato Revolutionizing the Food Industry

0
Beginning something like Zomato was out of an experience. One fine morning, Pankaj Chaddah and Deepindar Goyal were in Delhi's office when they saw...
The Indin government had warned Amazon and Flipkart to comply with the new rules and specify the product's country of origin, Amazon was also penalized.

The ‘Country of Origin Rule’ and Why it Matters to India?

0
India's government has fined ecommerce giant Amazon 25,000 INR for not displaying mandatory information, including the country of origin for its products (1). Last...
Stripe, one of the world's leading digital payment players, will soon penetrate Southeast Asia and India to expand its overseas activities.

Is Stripe’s entry to e-commerce Asia a bet on risk or return?

0
The entry of global players such as PayPal, Payoneer, and now Stripe in the Asia Pacific region validates the increasing market opportunity and evolving...
Paytm is also on its path to become a super app and give its users an all-in-one experience by offering a bundle of services.

Paytm Paving into a Super App, Expand its Service Offering

0
Paytm has pulled another conquest when the marketing reckon that it would take a kickback. Earlier, when there was buzz that Paytm is venturing...
The recent discussion now involves a massive data leak that put the information of students, teachers, and much more in crisis for WhiteHatJr.

WhiteHatJr Data Leak Controversy: Unfolded

0
Not too long ago, a live online coding platform for children, White Hat Jr., scripted a dream escape for itself. Byju's, the poster boy...
The story of Ashok Varma could be deemed as the most praiseworthy and controversial story of an ideal mind whose focus was to shift the market.

Meticulous and determined till the end: the story of Ashok Varma

0
Our world has been most captivated by the ideas of extreme players who took the world by storm, some who pulled the stock market...
It has been understood that Google, has been in talks or is in a state of mind to acquire Sharechat, the Indian social media platform.

Is Google taking the right measures to acquire Sharechat?

0
Sharechat has been India's go-to to engage in a short video and take a peek or have fun after the ban of the international...
ADVERTISEMENT