The funding saw participation from other institutional investors and angel investors alike
EximPe was founded in June 2021 by Arjun Abraham Zacharia to develop a cross-border payments platform
The startup will use the fresh funds to expand the team and develop products further
Fintech startup EximPe has raised $3.5 Mn in a seed funding round anchored by Leo Capital. The funding round also saw participation from other investors including RB Investments, Founder Bank Capital, iSeed Ventures, 2am VC, LetsVenture, and BoldCap.
The startup also saw participation from multiple angel investors including the likes of Kunal Shah (CRED), Rajesh Raju (Kalaari Capital), Axel Wehr (Firestartr.vc), Aprameya Radhakrishnan (Koo), Ankit Nagori (Curefoods), Giridhar Malpani (Climber Capital), Rohit M A (Cloudnine Group of Hospitals), Srini Kopparapu (Broadreach Asset Management), Chakrapani Mantena (Morgan Stanley), Deb Dutt (Goldman Sachs), Dushyant Sapre (ex-Twitter), Subramanya S V (Fisdom), and Sunil Rao (Amazon India), among others.
Founded by Arjun Abraham Zacharia in June 2021, EximPe will look to allow its enterprise customers to ease cross-border payments on its platform. Based out of Singapore and Bengaluru, it is presently asking users to join the waitlist for the payment service which the startup aims to launch soon.
Further, EximPe will use the freshly-raised funding for key position leadership recruitment, and also strengthen its product offerings. The startup is currently operational across the trade corridors of India-China, India-Gulf Cooperation Council countries, and India-ASEAN countries.
Zacharia, founder, EximPe said, “We at EximPe are working with this objective to transform cross-border trade for SMEs, by making cross-border payments digital, regulations-compliant, quick, cost-effective, and transparent. We are ecstatic to have gained investor confidence in our efforts to create a neo banking service platform that will reinvent cross-border trade and eliminate the industry’s current inefficiencies.”
Rajul Garg, founder & managing partner, Leo Capital said, “We are excited to back a brand that is poised to disrupt India’s cross-border trade industry and address the traditional challenges associated with it.”
Fintech is one of India’s fastest-growing segments in the startup ecosystem. Last month, Bengaluru-based B2B fintech startup Rupifi raised $8 Mn venture debt from Alteria Capital, Trifecta Capital, and InnoVen Capital.
Also, Bengaluru-based fintech startup Money View raised $75 Mn in its Series D funding from Tiger Global, Winter Capital, Evolvence India, and Accel.
The B2B payments transaction market size is expected to be worth around $70 Bn by 2030 and is anticipated to grow at a CAGR of 10.7% from 2021 to 2030, according to a report by Precedence Research.