Vegapay, a Gurgaon, India-based fintech startup, raised $5.5M in seed funding.
The round was led by Elevation Capital, with participation from Eximius Ventures.
The company intends to use the funds to hire developers, designers, and engineers, to enhance its product suite, focusing on product development and regulatory compliance updates.
Founded by Gaurav Mittal, Himanshu Agrawal, Puneet Sharma, and Abhinav Garg in 2022, Vegapay provides a lending tech stack and a card management platform that helps banks, NBFCs and fintechs launch flexible card & credit based products at speed. They empower card issuers to launch and manage highly configurable card programs, including credit, debit, prepaid, and forex cards, as well as innovative credit-on-UPI-based solutions. Additionally, Vegapay offers Loan Origination Systems (LOS), Co-lended Loan Management Systems (Co-LMS), and Loan Collection Systems (LCS), addressing critical issues of speed, scale, and innovation to help clients deliver financial services.
FinSMEs
02/06/2024