India, May 22 -- BFSI-focussed B2B SaaS startup Data Sutram has raised a Series A funding of $9 Mn (around INR 77 Cr) co-led by Lightspeed Venture Partners and B Capital.

The round was a mix of primary and secondary deals.

Without disclosing the names, Data Sutram's founder and chief executive Rajit Bhattacharya told Inc42 that some of the early angel backers have also partially exited in the current fundraise.

The Kolkata-based startup plans to use the fresh capital to strengthen its fraud detection tool. Additionally, it aims to cater to a wider high risk industries, including cryptocurrency, real-time payments, gaming, e-commerce, quick commerce and insurance.

Earlier, the company was only focussed on the banking and lending sector...