Business to business SaaS startup RootFi has raised over $1.5 million in seed funding round co-lled by Y Combinator, Pioneer Fund, Soma Capital, and other investors.
The company plans to utilise the raised funds to expand its coverage across different regions and categories such as e-commerce, CRM, & payments, and scale its team, RootFi said in a press release.
Co-founded in 2022 by Ishwar Gogineni, Sidharth Rao and Parth Shah,RootFi aims to provide a unified API for accessing consented business data from various financial platforms, including accounting, payments, and e-commerce platforms, and power new innovations for businesses in India, Asia, the Middle East and Africa. RootFi’s vision is to be the easiest way for B2B companies to interact with their customer’s business financial data through its unified API.
The Bengaluru-based startup claims to work with more than 25 fintech, SaaS, and financial institutions, to power technology for credit, underwriting, accounting automation, and business financial management.
RootFi was a part of Y Combinator’s Summer 2022 batch which also included startups like Landeed, Shelf, Cone, AlgoTest, HireSure.ai, among others. In February, HRtech platform HireSure.ai secured $2.5 million in seed funding co- led by YCombinator and Three State Capital.