The round was co-led by Peak XV Partners (formerly Sequoia Capital India) and Elevation Capital, with participation from existing investors and new backers including DST Global and Headline
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The new funding will help develop capabilities like intraday FX swaps, cross-currency repos, and programmable enterprise liquidity management
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This decline can be attributed to a confluence of geopolitical and economic factors. Despite the downturn in Fintech funding, the Indian economy has demonstrated robust performance, with a gross domestic product (GDP) growth rate of 8.2 per cent for the fiscal year 2024
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Venture capital firm Peak XV Partners, formerly known as Sequoia Capital India and SEA, has emerged as the leading investor in India's startup ecosystem, according to the ASK Private Wealth Hurun India Future Unicorn Index 2024
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This funding round, the first for Amica Finance, follows Jupiter receiving an NBFC license from the Reserve Bank of India (RBI) last year, allowing it to lend from its own book
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