Bengaluru-based fintech company Cashfree Tuesday said it has secured USD 5.5 million (over 38 crore) in funding led by South Korea's Smilegate Investment with participation from existing investor Y Combinator. The Series A funding also saw participation from investors such as George Osborne (former finance minister of the UK) and Vellayan Subbiah (former MD of Cholamandalam Investment), a statement said. Cashfree had earlier raised from Y Combinator and other investors in 2017. The funds will be utilised for expanding the team and distribution of the company's API banking platform payouts, the statement added.