LeRemitt, a cross-border platform that streamlines financial transactions, has raised $1.25 million in a seed round led by Axilor Ventures. Capital A has co-invested in this round which also saw participation from angel investors such as Ram Govindarajan (Founder of Wizfreight) and Sumit Agarwal (Founder of Vyapar).
According to LeRemitt, the proceeds will be used in assembling a team, global expansion, enhancing product capabilities, and forging strategic partnerships.
Founded by Mahesh Barate, Sheetal Jain and Hari Ambati, LeRemitt empowers businesses, especially MSMEs, through overseas financial transactions, expanding global reach, and navigating the complexities of international trade.
The startup uses its technology to enable swift money transfers, ensuring recipients have instant access to their funds. Its platform offers competitive rates and minimal transaction fees, making it a highly cost-effective option for all cross-border remittance requirements.
Founded in 2014 Axilor Ventures invests in early-stage startups across sectors in the supply chain/B2B commerce, enterprise SaaS, healthtech, agritech, fintech, and consumer internet space. The fund has invested in companies such as Wiz Freight, Vyapar, Detect, Capgrid, Metalbook, Medfin and Enkash, amongst others.
