Fintech startup Uni raises $70 mn Series A funding led by General Catalyst

The firm had raised a $18.5 mn seed round in October 2020, while still in stealth mode and its flagship product, the pay later card, Pay 1/3rd card was launched this June

Fintech startup Uni has raised $70 million in Series A round led by General Catalyst, making this one of the largest Series A rounds in the Indian fintech space. The round also saw participation from Eight Roads Ventures, Elevation Capital, Arbor Ventures, and existing investors Lightspeed and Accel. The funds will be used to scale-up the team, launch new category-creating products and invest further in tech to redefine consumer experience. The valuation of the company after this funding has increased to $350 million from previous valuation of $45 million.

“The Indian credit market is ripe for explosion and there is vast