State Bank of India invested recently in Cashfree, a Bangalore based company. The amount is not disclosed and the firm deals in digital payments. After investing the Country’s biggest public sector lender is seen to join the league of investors. The investors for Cashfree were Smilegate, Y Combinator and Apis Partners at the fintech cap table. Cashfree also raises 35million$ in November 2020 in a series.
Series B funding rounds were led by Apis Growth Fund and their existing inverter called as Y combinator and the evaluation was around $200 million. However, Cashfree is a payment processing platform being used by many enterprises like CRED, Zomato, Nykaa, Acko, Shella nd Delhivery for e-commerce to marketplace settlement and vendor payments.
Akash Sinha the chief executive and co-founder of Cashfree mentioned their excitement for the partnership with one of the country’s leading and trusted lenders SBI. He further stated that investment can fit perfectly with the growth strategy. And they continue to focus on product innovation and client experience. Cashfree founded in 2015, by Reeja and Sinha Datta processes online payment for the Indian enterprises. Therefore company is led by the Y Combinator aluminous based in San Francisco. Cashfree attracting investments from SBI