Signzy, a Bangalore-based market leader providing digital banking infrastructure, has secured 26 Million US Dollars, or INR 210 Crore, from several investors. Gaja Capital, a Mumbai-based Venture Capital (VC) and private equity firm, led the fundraising round to fund the company’s growth strategy.
According to reports, Singapore-based Venture Capital (VC) company Vertex Venture Holdings and Bangalore-based Venture Capital (VC) and private equity firm Arkam Ventures, two current investors of Signzy, took part in the round of funding as well.
The digital banking infrastructure provider said it would utilize the secured capital to expand its current product line and promote its platform usage among clients in the financial services and banking sectors.
Signzy is a FinTech company that assists banking institutions and financial services companies with multichannel onboarding. It also uses Artificial Intelligence (AI) to automate back-office tasks.
A total of more than 240 Application Programming Interfaces, or APIs, are accessible through ‘Go’, the firm’s no-code development platform, which assists in collaborating with financial institutions with functions like video Know Your Customer (KYC) verification, asset verification, debt collections, and credit search.
Ankit Ratan, the co-founder and Chief Executive Officer (CEO) of Signzy, stated that financial services firms had embraced their no-code platform enthusiastically as they embarked on their digital transformation journey. The system was created comprehensively to enable banking institutions and financial services companies to launch and provide User Experiences (UX) akin to FinTech in a couple of days rather than months and years. The company is also overwhelmed with Gaja Capital joining them to achieve their goal.
Gopal Jain, a managing partner of Gaja Capital, said that they were amazed by Signzy’s no-code platform for the banking and financial services sector, which they think is distinctive globally and addresses actual problems or needs faced by customers. Their tech has allowed institutions to transform at high speed with no need to alter the basic old systems.