Inventus Law client & India’s leading payments processing platform Cashfree onboards India’s largest bank, State Bank of India as an investor.
SBI has invested an undisclosed amount in Bengaluru-based Cashfree, the digital payments firm said on Monday. With this, the country’s largest public-sector lender joins a slew of investors—including Apis Partners, Smilegate, and Y Combinator—at the fintech startup’s cap table. Cashfree had in November 2020 raised $35 million in a Series B funding round led by Apis Growth Fund II and existing investor Y Combinator, at a valuation of around $200 million.
Businesses use the company’s payments processing platform like Zomato, CRED, Nykaa, Delhivery, Acko, and Shell for e-commerce to vendor payments and marketplace settlements.