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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.

Bamrish rauKush tanejaSambhav jainMridul aroraKunal shahIndian institute of technologyGeneral catalystGreenoaks capitalSequoia capital indiaGlobal founders capitalVenture highwayElevation capitalIndian instituteTill financialPine labsஅம்ரிஷ் ரௌ