Twid, Jify, OneLoad and Bluecopa
This week’s Practical Friday Funding includes four South Asian fintech start-ups – Twid, Jify, OneLoad and Bluecopa.
Indian rewards-based payment platform Twid has raised $12 million in its Series A funding.
Twid raises $12 million
The round was led by Rakuten Capital, with participation from Google, JAFCO Asia, January Capital, ICMG Partners, Reddy Futures Fund and existing investors Beenext and Sequoia India’s Surge.
Twid plans to use the fresh capital to expand its network and grow the business, while hiring for roles within the team.
Founded in 2020 and headquartered in Bengaluru and Singapore, Twid helps users redeem loyalty points and rewards earned from credit and debit cards, retail and online brands and travel to make payments.
Last July, Twid raised $2.5 million in funding led by Beenext and Sequoia’s Surge.
Mumbai-based startup Jify has secured $10 million in Series A funding from Accel and Nexus Venture Partners.
Jify says it will use the new funds to develop its product offering, accelerate customer acquisition and create awareness to drive user adoption.
Founded in 2021, Jify aims to build “financial resilience” for employees by allowing them to access their earnings on demand, so people don’t have to fall back on high-cost credit or loans.
Pakistani fintech OneLoad has secured $11 million in funding, in a round led by Sarmayacar and Shorooq Partners, an Abu Dhabi-based venture capital firm.
OneLoad says it secured financial capital from the Bill & Melinda Gates Foundation last year and also received additional funding recently.
The company intends to use the latest funding to support business expansion, launch more new products and expand services in the unbanked Pakistani market.
The Indian fintech company Bluecopa has secured USD 2.3 million in seed funding. The round was led by Blume Ventures, with participation from Titan Capital, T-Fund, Speciale Invest, Bharat Founders Fund, T2D3, Amplify and Force Ventures.
Bluecopa receives USD 2.3 million in seed funding
Bluecopa is a platform for finance operations built for finance teams in high-growth companies.
The platform, with an excel-like interface, automates day-to-day finance operations such as data consolidation, business planning, scenario modeling, variance analysis, intelligent alerts, reconciliations and more.
Bluecopa says it helps chief financial officers (CFOs) and CFOs reduce data-to-decision cycles with a real-time view of business KPIs and alert alerts that provide daily business observability.
“We aim to accelerate the digitization of the finance function to seamlessly manage scale and complexity. In the long term, our vision is to rebuild the entire CFO technology stack and empower finance professionals to focus on strategic aspects,” the company says.
