Cashfree Raises USD 120k From Y Combinator
Payments platform Cashfree today said it has received USD 120,000 in seed funding from Silicon Valley-based startup accelerator Y Combinator.
Cashfree was one of 130 startups globally selected for Y Combinator's Summer 2017 batch and more than 7,000 applications were received this year, a statement said.
"The products we have built are first of their kind and are helping businesses scale and innovate faster. We already are a profitable business and are looking to process Rs 200 crore of monthly payments by the end of the year," co-founder Akash Sinha said.
The startup claims to process more than Rs 50 crore of payments every month and has 1,100 merchants on its platform.
Cashfree works as a payment gateway that automates inbound and outbound bank transfers.
This replaces the slo...