Recko raises $6 mn in Series A funding; to use funds for expansion, hiring

Recko, a Bengaluru-based enterprise fintech startup that enables AI-powered reconciliation of digital transactions, announced on Thursday it has raised $6 million in Series A funding.

The investment was led by Vertex Ventures SEA and India, and saw participation from existing investor Prime Venture Partners.

The fresh funding will be used for further product development, hiring and expanding its presence outside India, Recko said in a statement.

Since it was founded in 2017, Recko has reconciled transactions worth $5 billion, it said.

The startup has built a SaaS-based financial reconciliation product that, it said, keeps track of the complete transaction lifecycle and commercial contracts for organisations.

Its customers include