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Enkash gets RBI nod for payment aggregator license
January 12, 2023
Yadvendra Tyagi, Founder, EnKash said the RBI’s in-principle approval reiterates the need for digital solutions to manage business cash flows in an efficient way to sustain growth and profitability. “This will help us streamline the cash flow process for businesses where they will be able to seamlessly consolidate their payable and receivable and make necessary actions around payments.”
The company said it has helped over 1 lakh businesses to digitize and decentralize their corporate payments since its launch and has issued more than 8 lakh Corporate Cards that offer a range of business spends like travel, subscriptions, marketing, GST, procurement, and more.
Enkash had raised $20 million in a Series-B funding round led by Ascent Capital with participation from Baring India, White Ventures & existing investors in 2022. In the past, it had raised $3 Million from Mayfield India and Axilor Ventures. The company plans to further scale up its banking infra products with plug-and-play cards issuance stack, CardX, and expand its geographical presence on the international front.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/