Exclusive: PayMate To Raise $100 Mn In Pre-IPO Round, To Enter Unicorn Club
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...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.