FinTech Startup Neokred Raises Undisclosed Seed Capital

According to the founders, they plan to grow at least 10x in the next 12 months and become one of the biggest disruptors in the BFSI Sector.

Neokred Technologies Pvt Ltd, has recently completed its Seed Round for an undisclosed amount. The round was led by Virenxia Group followed by Nitin Agarwal (Founder of B21 Ltd and PayGlobal Ltd). Capnetic Consulting Group was the sole financial advisor for the fundraise. Neokred is an infrastructure Neo Bank that empowers Corporates, Fintechs, and Startups to launch their own banking services with the help of customized tools. 

According to Rohith Reji, Co-founder – Neokred Technologies, “With the immense growth Neokred has achieved in the last 6 months, we plan to ramp up our technology offerings and diversify into other products such as Savings, Rewards, Pay Later, etc. This would provide fintech and corporates with a ‘Plug-N-Play’ module to launch their own branded customized versions of the product. “

Neokred creates and adds a layer of technology to traditional bank infrastructure to redefine modern corporate solutions in the field of branded card management, account management, payouts, etc. The start-up has empowered companies across Credit, Expense Management, Student-Neo Banks, Retail Banking, Incentives, and digital accounts. According to the founders, they plan to grow at least 10x in the next 12 months and become one of the biggest disruptors in the BFSI Sector.

According to Satyam Khagen Bose, Chairman, and CEO of Virenxia Group, “Virenxia is striving towards creating an impact in Sustainable Agriculture through its 360-degree holistic and systemic solutions, with a renewed approach towards the last mile farmer. The strategic partnership with Neokred will enable Virenxia to provide FinTech Solutions in the Rural Agri Sector”

Virenxia Group is a multinational organization headquartered in Singapore (as GI Projects SG) with its presence in India and the Middle East. They provide innovative, reliable, and integrated sustainable solutions for businesses, governments, and organizations.

Source: Business World