Fintech startup Upswing has raised a funding of $4 million (around Rs 30 crore) led by QED Investors. The round also saw participation from Kunal Shah, Jitendra Gupta, Rajan Bajaj and Lalit Keshre, among others.
The Pune-based startup plans to use the fresh capital in building plug-and-play platforms for open finance and help fintech and consumer tech companies offer financial services seamlessly.
Founded in 2021 by Anupam Bagchi and Nihar Gupta, Upswing’s banking-as-a-service stack aims to help companies launch new banking products in weeks.
The platform is highly customisable, simple and modular and will significantly reduce the integration efforts of consumer tech players to launch financial products like savings accounts, deposits and lending services.
The platform also said it is working with a few leading banks on the stack which will go live in a phased manner this year.