India, Sept. 21 -- Mumbai-based B2B payment solutions provider PayMate is raising $100 Mn in its pre-IPO round. As per sources, with this investment, PayMate will be inching towards attaining unicorn status.

Inc42, last week exclusively reported that PayMate has raised around $4 Mn from Astor Management AG, Felicitas Equity Fund, and CXI Valley I LLC. The fresh round was led by Felicitas, a US-based equity fund who will infuse $2 Mn in the startup. This round had valued the startup between $930 Mn and $950 Mn, according to Inc42 estimates.

Sources confirmed that the $4 Mn is the part of the $100 Mn that the startup is raising as its pre-IPO round.

PayMate was founded by Ajay Adiseshann and Probir Roy in 2006. The fintech startup enable...