Digital banking infrastructure provider Signzy has raised Rs 210 crore (or $26 million) from investors led by Gaja Capital to support its expansion plan.

Existing investors Vertex Ventures and Arkam Ventures also participated in the round, said Bengaluru-based Signzy.

The company said it would use the fund to bolster its existing product line and drive adoption of its platform among banking and financial services customers.

Signzy, founded in 2015, provides a digital software platform to help fintechs, financial institutions and banks with multi-channel integration, as well as automates back-office operations using artificial intelligence.

The company’s no-code platform “Go” also provides access to an aggregated marketplace of more than 240 application programming interfaces (APIs), helping partner financial institutions perform things like video knowledge verification of your customer (KYC), credit checks, asset authentication. and loan recoveries.

“Signzy has seen strong adoption of its no-code product by financial services companies as they embark on their once-in-a-lifetime digital transformation journey,” said Ankit Ratan, co-founder and CEO of the company. “The solution was developed from the ground up to enable banks and financial service providers to deploy and deliver fintech-like user experiences in days, not months or years. We are also delighted that Gaja Capital has joined us in supporting our vision.

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Signzy claims to help customers with over 10 million customer and business onboardings every month. The startup works with over 240 financial institutions globally, including India’s four largest banks.

“The team at Signzy really impressed us with their no-code scanning platform for the financial services industry, which we believe is the first of its kind in the world and solves real problems for their customers,” Gopal said. Jain, Managing Partner, Gaja Capital. “Their technology allowed banks to undergo rapid transformation without changing underlying legacy systems.”

Signzy also has a partnership with Mastercard and Microsoft.

In January this year, financial infrastructure provider M2P Fintech raised $56 million led by New York-based global private equity firm Insight Partners. The round also saw participation from MUFG Innovation Partner and the company’s existing investors, Tiger Global and Better Capital.

M2P provides an API infrastructure that enables businesses of any size to integrate financial products across all segments of payments, lending and digital banking.

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