Payments Firm Fampay Raises $38M

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The Series A funding round was led by Elevation Capital. : FamPay, an Indian financial technology platform, recently announced that the company has secured $38 million in funding. Elevation Capital led the latest Series A investment round. According to an official announcement, the company’s existing investor Sequoia Capital India also participated in the funding round. In March 2020, FamPay secured $4.7 million in funding from various investors including Y Combinator, Venture Highway, Sequoia Capital India, and Global Founders Capital. FamPay claims to be India’s first neo-bank for teens.

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