Y Combinator-backed inai raises $4 Mn in seed round

inai, a no-code platform for handling payments, has raised $4 million in its seed round led by Berlin-based Paua Ventures and 9Unicorns.

Uncommon Capital, Soma Capital, Anarko ventures, Better Capital, and Gemba Capital along with angel investors such as Sriram Krishnan, Kunal Shah, Lenny Rachitsky, Matt Robinson and others have also participated in the round.

According to inai, the funds will be used to strengthen its technology team, to expand its product portfolio and to build sales and marketing.

Founded by Anantharaman Pattabiraman and Karthik Narayanan, inai connects multiple payment methods and payment gateways in one simple integration. It allows merchants to manage checkout, payments, subscriptions, refunds, cancellation and chargebacks.

The startup claims that it allows merchants to go live within 60 minutes with an international payment stack that is optimised for every market they want to operate in and take control of their payment data.

In addition, inai provides a rich software layer to support different subscription models for an e-commerce merchant or a SaaS business to sell across multiple geographies.

inai is a part of Y Combinator’s Summer 2021 cohort for startups.