The B2B fintech company Mysa has raised $2.8 million, or about INR 24 crore, in its seed financing round with the assistance of Blume Ventures and several other investors, such as Emphasis Ventures (EMVC), Antler, and Neon Fund.
The Bengaluru-based company intends to increase customer growth, recruit additional employees, and improve platform capabilities with the new capital.
The fintech startup has also unveiled its unified banking and finance platform in an effort to develop an AI-powered management tool that would help businesses manage their cash.
Arpita Kapoor, Mysa cofounder and chief executive officer,said, “As part of our ambitious roadmap, Mysa has successfully obtained a registered investment advisor (RIA) licence from the Securities and Exchange Board of India (SEBI).”
The startup has partnered with Yes Bank to provide current account operations, targeting businesses with annual revenue or expenses between INR 10 and 300 Cr.
Founded in 2023 by Kapoor and Mohit Rangaraju, Mysa provides finance automation, SaaS, and financial services to mid-sized organizations. Additionally, AI-based invoice processing, automated accounting and taxation, and seamless payments through partner bank accounts are utilized by contemporary private limited corporations.
Only a small number of businesses were utilizing Mysa’s limited beta version until today. The companies it claims to have onboarded include DPDZero, Kouzina, Swish, and Rigi.
This takes place while investors are showing a great deal of interest in the Indian B2B fintech industry. For example, Mumbai-based Snapmint raised $18 million in December of last year through a pre-series B investment round that comprised both loans and stock.
At about the same time, Mintifi raised $180 million, or more than INR 1500 crore, in its Series E fundraising round, which was co-led by Prosus and Teachers’ Venture Growth (TVG). Both primary and secondary deals were involved in this transaction.
India is home to 37 soonicorns and 26 fintech unicorns, per an Inc42 research. Since 2014, the segment has received approximately $29 billion in funding.
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