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SBI invests in digital payments firm Cashfree


State Bank of India has made an undisclosed investment in digital payments firm Cashfree. The Bengaluru-based company. which had raised $35 million in November 2020, will focus on customer experience and product innovation.

Founded by Reeju Datta and Akash Sinha, Cashfree provides full-stack payments solutions to over 100,000 growing businesses through a single integration. The company claims to process transactions worth $20 billion annually and profitability for three consecutive fiscal years.

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