Fintech startup Backspace Tech has secured $450K from Mohan K, Jai Kumar, Omar Bin Brek, along with M2P founders and other angel Investors.
The Chennai-based startup will use the fresh funds to strengthen its technology stack, and team expansion, said Backspace Tech in a press release.
Founded by Praveen Krishna Dev, Vishwanath Vijayan and Karthik Sivaram V, Backspace Tech is a fintech startup building SaaS products for financial institutions to solve the disputes and chargebacks on UPI and card payments, solving the challenges of issuer banks as well as acquirer banks.
According to Backspace Tech, it provides cost-effective, lower TCO, and a faster GTM by incorporating all compliance and regulations, packaged with the latest tech stack. This will help banks and fintech companies to reduce their efforts from customer support and retail branches on handling the disputes.
Some of the leading banks have been connected TO Backspace Tech in terms to adopt UPI disputes on priority and along with cards dispute on the future releases. Fintech companies like Ippopay have shown interest as it can solve the ODR regulation from NPCI.