Total amount raised
$38.3 Millions
Latest funding date
Location
Signzy has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers AI-powered digital onboarding solutions for financial institutions, enhancing compliance and user experience.
Keep reading to explore the intricacies of Signzy's fundraising journey and the investors backing this innovative platform.
What Is Signzy?
Founded in 2015, Signzy is an AI-powered FinTech company based in Bengaluru, Karnataka, India. The company specializes in digital onboarding solutions for financial institutions, offering services like KYC, KYB, and AML compliance.
Signzy was founded by Ankit Ratan, Ankur Pandey, and Arpit Ratan. The platform leverages a no-code interface and APIs to provide seamless identity verification and fraud detection.
With a team of 251-500 employees, Signzy continues to innovate in the financial technology space, enhancing compliance and user experience for its clients.
How Much Funding Has Signzy Raised?
- Series A
- Amount Raised: $3.6M
- Date: November 2018
- Lead Investors: Kalaari Capital, Stellaris Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and scale operations.
- Venture Round
- Amount Raised: $600K
- Date: May 2018
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and product development.
- Venture Round
- Amount Raised: Not disclosed
- Date: January 2019
- Lead Investors: Contrarian Drishti Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand market reach.
- Non-Equity Assistance
- Amount Raised: Not disclosed
- Date: July 2019
- Lead Investors: T-Hub
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources for scaling.
- Venture Round
- Amount Raised: $5.4M
- Date: October 2020
- Lead Investors: Arkam Ventures, Mastercard
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market expansion.
- Venture Round
- Amount Raised: $3M
- Date: December 2020
- Lead Investors: Vertex Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI capabilities and enhance customer onboarding solutions.
- Non-Equity Assistance
- Amount Raised: Not disclosed
- Date: March 2021
- Lead Investors: Tenity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage strategic partnerships for growth.
- Non-Equity Assistance
- Amount Raised: Not disclosed
- Date: July 2022
- Lead Investors: HPE Digital Catalyst Program
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain technological support and resources for scaling.
- Series B
- Amount Raised: $26M
- Date: September 2022
- Lead Investors: Gaja Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product portfolio and increase platform adoption among global financial institutions.
Total Amount Raised: $38.6M
Current Valuation: Not publicly disclosed
Key Investors
- Gaja Capital
- Details: Gaja Capital is a private equity firm that focuses on investing in mid-market companies in India. They led the $26 million funding round for Signzy.
- Investment Focus Areas: Education, Financial Services, Consumer, Healthcare
- Notable Investments: LeadSquared, EuroKids, Kangaroo Kids
- Vertex Ventures
- Details: Vertex Ventures is a global network of venture capital funds, focusing on early-stage to growth-stage investments. They participated as an existing investor in Signzy's $26 million funding round.
- Investment Focus Areas: Technology, Enterprise, Healthcare
- Notable Investments: Grab, Patsnap, FirstCry
- Arkam Ventures
- Details: Arkam Ventures is a venture capital firm that invests in early-stage technology companies in India. They participated as an existing investor in Signzy's $26 million funding round.
- Investment Focus Areas: Financial Services, Healthcare, Consumer Technology
- Notable Investments: KreditBee, Smallcase, Signzy
- Stellaris Venture Partners
- Details: Stellaris Venture Partners is an early-stage venture capital firm based in India. They were a lead investor in Signzy's Series A round.
- Investment Focus Areas: Technology, Consumer, Healthcare
- Notable Investments: Mamaearth, Whatfix, LoadShare
- Kalaari Capital
- Details: Kalaari Capital is an early-stage venture capital firm based in India. They were a lead investor in Signzy's Series A round.
- Investment Focus Areas: Technology, Consumer, Healthcare
- Notable Investments: Dream11, Cure.fit, Urban Ladder
What's Next for Signzy?
Signzy stands at the cusp of significant opportunities, driven by the increasing demand for digital transformation in the financial services industry. With its 'No-code' AI platform, the company is well-positioned to expand its product portfolio and gain greater adoption among global banking and financial services customers. The recent Rs 210 crore funding round underscores the vast potential for growth, particularly as Signzy leverages its patents and innovations, including banking in the metaverse.
Future fundraising opportunities appear promising, given the successful recent round and the growing interest from investors. Signzy's innovative solutions and strong market position could attract further investments, enabling the company to scale operations and enhance its technological capabilities. However, challenges such as competition from other fintech companies, integration with legacy systems, and navigating regulatory requirements will need to be addressed to maintain its growth trajectory.
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