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Y-Combinator-backed BharatX raises $4.5 million in seed round

The Y-Combinator-backed startup plans to use the funds to build and expand its team, work on products and expand footprint

May 12, 2022 / 01:13 PM IST
Eeshan Sharma, COO & Co-Founder, Mehul Nath Jindal, CEO & Co-Founder, Shyam Murugan, CTO & Co-Founder

Eeshan Sharma, COO & Co-Founder, Mehul Nath Jindal, CEO & Co-Founder, Shyam Murugan, CTO & Co-Founder

Bengaluru-based fintech startup BharatX raised $4.5 million in seed round from Y Combinator, 8i Ventures, Multiply Ventures, Soma Capital and others investors to enable embedded credit in the Indian market, the company said on May 12.

The Y-Combinator-backed startup plans to use the funds to build and expand its team, work on products and expand footprint.

Existing investor Java Capital also participated in the round, which also saw participation of several marquee angels including Arash Ferdowsi, Co-founder, Dropbox, Harshil Mathur, CEO & Co-Founder of Razorpay,  Shashank Kumar, Founder of Razorpay, Varun Alagh, Co-founder & CEO of Mamaearth, Kunal Shah, Founder and CEO of CRED, Ankur Aggarwal, Co-founder of Dunzo, and Vikas Choudhury, President of Reliance Jio.

''We want to give the middle class of India easy access to credit products that they deserve yet are not able to access today, while setting the bar for world-class UX and customer service while doing so,'' BharatX co-founder & CEO Mehul Jindal said.