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May 23, 2023

RootFi raises $1.5M in seed round

Company offers lending-as-a-service solutions

Y Combinator, Soma Capital, and Pioneer Fund have recently invested $1.5 million in RootFi, a dynamic B2B SaaS startup based in Bengaluru, India. With this exciting investment, RootFi will be able to provide unified APIs for business financial data, simplifying the way companies interact with their customers' financial information as a B2B company.

What sets RootFi apart is its ability to streamline financial data access through its user-friendly unified API. By offering a seamless solution, RootFi aims to revolutionize how B2B companies leverage and engage with their customers' financial data, enabling them to make more informed decisions and improve their overall business processes.

In addition to the institutional investors, RootFi's seed funding round attracted the attention of prominent individual investors such as Arash Ferdowsi, founder and former CTO of Dropbox, as well as Alan Rutledge, Samvit Ramadurgam (founder of Forge), Amit Goel (founder of Medici and Global & India Head of Prove), Anmol Maini, and Vedica Kant (partners at Untitled Ventures). This diverse group of investors further highlights the immense potential and confidence in RootFi's innovative approach.

With the new capital injection, RootFi plans to expand its coverage across various regions and industries, including e-commerce, CRM, payments, and more. Their ambitious growth strategy includes scaling up their team based in Bangalore over the next year, enabling them to provide even more comprehensive services and support to their expanding customer base.

Ishwar Gogineni, CEO of RootFi, expressed enthusiasm for the future, stating, "We look forward to expanding our coverage into regions such as the Middle East, South-East Asia, and Africa." This strategic expansion demonstrates RootFi's commitment to becoming a global leader in facilitating seamless access to business financial data.

RootFi is already making significant strides in the industry, collaborating with over 25 fintech, SaaS, and financial institutions. Through these partnerships, they are driving technological advancements in critical areas such as credit underwriting, accounting automation, and business financial management. By empowering their partners with cutting-edge technology, RootFi is helping businesses optimize their operations and unlock their full potential.

RootFi's successful seed funding round illustrates their innovative approach to accessing B2B financial data. RootFi is poised to revolutionize the way companies interact with and utilize their customers' financial information thanks to its strong vision, growing team, and strategic partnerships. RootFi continues to revolutionize the B2B SaaS landscape as they expand their coverage and reach new markets.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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