Fintech firm BharatX raises $4.5mn in seed round to expand business

The company works with brands and websites to provide a credit feature in their apps to serve customers.

Fintech firm BharatX raised $4.5 million in a seed round from Y Combinator, 8i Ventures, Multiply Ventures, Soma Capital, and other investors to expand its embedded credit product that integrates financial services into traditional businesses.

Existing investor Java Capital participated in the round. Angel investors Arash Ferdowsi, co-founder of Dropbox, Harshil Mathur, CEO and co-Founder of Razorpay, Shashank Kumar, founder of Razorpay, were in the round too.

“Consumers of India deserve a better class of Credit products out there. Today, if you look at the landscape, most players have low Credit Eligibility approval rates, long documentation sign-up processes and unethical collection practices.