Startup Description: Bengaluru-based Cashfree is a payments platform that allows marketplaces and fintech platforms to easily set up custom payment flows while ensuring full regulatory compliance. The product is being used for automated payouts for crowdfunding, marketplace vendor settlements, payroll for on-demand economy workers, loan disbursal & repayment for lenders, modern ERP & accounting tools for invoice payments, and instant refunds via payment gateway versus five to seven days presently. Cashfree claims to process more than INR 50 Cr of payments every month and have 1100 merchants on its platform.
Amount Raised/Investor(s): The startup has raised $120K in its Seed round of funding from Silicon Valley-based startup accelerator Y Combinator.
Deployment Of Funds: The raised capital will be used for product development, hiring more individuals to sales and engineering platforms, strengthening bank partnerships, and for marketing engagements.
Previous Funding: NA