NCOME secures Rs 3.6 cr funding led by Venture Catalysts, 9Unicorns, others

NCOME, an Escrow-as-a-Service platform, has secured Rs 3.6 crore funding led by Venture Catalysts, 9Unicorns, PointOne Capital and LetsVenture, in keeping with an announcement. NCOME gives enterprise and particular person prospects with quick, safe, and low-cost digital escrow service, the corporate stated in an announcement.

NCOME leverages expertise to streamline typical processes by means of on-line KYCs and digital escrow account openings.

With an account administration suite, it additionally permits prospects to handle their digital escrow accounts in a handy method.

“Venture Catalysts…and PointOne Capital have led a pre-seed investment in NCOME, the country’s first Escrow-as-a-Service platform,” the assertion stated.

The idea-phase accelerator fund, 9Unicorns, additionally participated within the Rs 3.6 crore funding spherical, together with angel funding agency LetsVenture and different traders.

Apoorv Ranjan Sharma, Co-founder & President – Venture Catalysts and 9Unicorns stated, fintech is among the most promising and thrilling sectors in India and performed a serious function in preserving the economic system ticking throughout the COVID-19 outbreak.

“NCOME represents the next phase of the industry’s exponential growth trajectory and is addressing a massive market white space with its unique service offering,” Sharma stated.

Commenting on the funding, Vineet Okay Singh, co-founder of NCOME, stated, “We are overwhelmed by the response that we’ve got from investors during these times. Escrow-as-a-Service is a huge, under-served opportunity and we feel privileged to be the amongst the first movers in this space.”