Bengaluru-based B2B fintech startup CARD91 has raised $13 Million in a Pre-Series A funding round. The round was led by Infinity Ventures, Point72 Ventures, and Sabre Partners.
The round saw the participation of Emphasis Ventures (EMVC), Commerce Ventures, and other angel investors as well.
The fresh funds will be utilized in the following ways:
- to strengthen its service offerings and
- acquire new talent.
The fintech startup has secured a total valuation of $14 Million. CARD91 was founded in 2020 by Vineet Saxena, Ajay Pandey, and Kush Srivastava. CARD91 offers a plug-and-play payment issuance infrastructure that helps businesses and banks in launching co-branded cards.
Once the program is designed, CARD91 helps them to make the instrumental card functions. The businesses can launch the card without making any alterations to their existing systems/ERP with easy integration.
For businesses, CARD91 acts as a card issuance platform that manages payment flow from customer to transaction processing to data reconciliation. Especially for banks, it has an API platform that provides facilities for new-age payment services and card-based lending.
CARD91 clients are in the lending space, agritech, edtech, fintech ventures that intend to launch their own card programs for their personalized customers. It would live with four clients over the next 30-45 days. EXECUTIVE OPINION:
“Businesses don’t have to go to banks separately for integration/approvals. We take care of everything, thereby enabling companies to launch the card faster,” the spokesperson said.
