EnKash Raises US$20M In Series B Funding

enkash

EnKash raised US$20m in its Series B round, a Spends Management Platform (and Corporate Cards) company based in Mumbai, India.

Ascent Capital was the lead investor, with participation from Baring India (White Ventures) and existing investors Mayfield India (Axilor Ventures).

The company plans to use the funds for expansion and business growth.

Founded by veterans in the cards and payments space – Naveen Bindal, Hemant Vishnoi and Yadvendra Tyagi, EnKash has been a pioneer in unifying cards and spend management and features financial automation tools, enabling businesses to manage payables, receivables and expenses on the fly, powered by a DIY-Platform first approach.

Nearly 120 employees work for the company, which boasts annualized spending of $2B. EnKash also tracks key metrics such as the number of businesses that EnKash serves and the number of issued cards for each business.

 

Get latest news from African Startup ecosystem

Latest stories

You might also like...