SALT, a cross-border payments platform, has raised $500K in its pre-seed round from a clutch of angel investors such as Prashant Pansare, Amit Goel, Vishrut Bubna, Supermorpheus along with founders from various startups such as IIMJOBS, Cashoverflow, Orange Health, Cloudnine Hospitals, and others.
According to SALT, the funds will be used to further ramp up its product development, engineering and team expansion.
Founded by Ankit Parasher and Udita Pal, SALT, currently provides people with inward remittance products, which helps businesses receive money from over 50 countries and six currencies. It also provides a banking, documentation management, and workflow automation platform for exporters and importers (manufacturing and services) across India.
The startup went live with the beta version of its inward remittance product, which already has over 100 SMEs and businesses using it. The product will now be available to more exporters who want to receive payments from over 50 countries to India.