Digital banking infrastructure provider Signzy has raised Rs 210 Crore ($26 million) funding from Gaja Capital and its existing investors Vertex Ventures and Arkam Ventures, the company said in a press note.
Mastercard, Kalaari Capital and Stellaris Venture Partners also took part in the funding round.
The company added that it would use this inflow of fresh capital to enhance its ‘no-code workflow digitisation’ platform and solutions to target greater adoption by global banking and financial services clientele.
Talking about the growth of the financial services industry, Ankit Ratan, CEO of Signzy, said, “The financial services industry is undergoing a massive and multi-year digital transformation and we have only seen the tip of the iceberg so far. Signzy has seen strong adoption of its no-code product by financial services companies as they start on their once-in-a-lifetime digital transformation journey."
Signzy has filed eight patents so far in the US, and nine in India, for its innovations, the release stated. The startup had also won a Technoviti Award for its video KYC solution, which digitises and fast-tracks new customer onboarding for the financial services industry.