Fxkart.com Looks To Raise USD 5 mn Series A Funding
Fxkart.com, an online aggregator of authorised foreign exchange dealers, is looking to raise USD 5 million in Series A funding by the end of this quarter.
"We are in advanced stage of negotiations and by end of this (June) quarter, we hope to raise USD 5 million," Fxkart Business Development Head (East and North) Dhruba Khatua said.
The fund will help Fxkart.com in marketing, technology and increased dealer participation.
Fxkart.com FZ LLC is a UAE-based Free Zone Company, having its research and technical base at Bengaluru and had received a seed funding of USD 2 million in March 2015.
The start-up, claimed to be Indias first forex aggregator, operates through over 200 money changers catering to over 1,000 locations in the country.
Khatua said they get a commission from the dea...