Fintech startup EnKash has raised $20 million as a part of its Series B round led by Ascent Capital and joined by Baring India & Singapore-based White Ventures. The round also saw participation from existing investors, Mayfield India and Axilor Ventures.
Founded in 2018 by Naveen Bindal, Hemant Vishnoi and Yadvendra Tyagi, EnKash provides financial automation tools to manage payables, receivables & expenses for startups and SMBs.The company also offers corporate cards with DIY Card Management and Spend Controls.
The Mumbai-based startup had roughly 30 employees two years ago and now it is close to 120 employees. The startup tracks over 70K businesses and over 500K issued cards.
Previously, EnKash had raised $3 million from Mayfield and Axilor Ventures as a part of its Series A round in 2019. The company was seed funded by Axilor Ventures.