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FamPay, a fintech aimed at teens in India, raises $38 million
How big is the market in India for a neobank aimed at teenagers? Scores of high-profile investors are backing a startup to find out.
Bangalore-based FamPay said on Wednesday it has raised $38 million in its Series A round led by Elevation Capital. General Catalyst, Rocketship VC, Greenoaks Capital and existing investors Sequoia Capital India, Y Combinator, Global Founders Capital and Venture Highway also participated in the new round, which brings FamPay’s to-date raise to $42.7 million.
The size of the new investment makes it one of the largest Series A rounds in India. TechCrunch reported early this month that FamPay was in talks with Elevation Capital to raise a new round.
Kids-focused fintech Greenlight raises $260M in a16z-led Series D, nearly doubles valuation to $2.3B
Greenlight, the fintech company that pitches parents on kid-friendly bank accounts, has raised $260 million in a Series D funding round that nearly doubles its valuation to $2.3 billion.
The funding comes just months after the Atlanta-based startup landed $215 million in funding at a $1.2 billion valuation. With the latest round, Greenlight has now raised over $550 million.
Andreessen Horowitz (a16z) led its Series D, which also included participation from return backers TTV Capital, Canapi Ventures, Wells Fargo Strategic Capital, BOND, Fin VC, Goodwater Capital, as well as new investors Wellington Management, Owl Ventures and LionTree Partners.
Latest challenger bank for kids emphasizes collaborative savings americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.