Indian startup raises $70 million
Indian fintech startup Uni, whose team created cards for purchasing goods and services by installment, has raised $70 million in the A-series funding round.
The project managed to get funding from General Catalyst, Eight Roads Ventures, Elevation Capital, Arbor Ventures, Lightspeed and Accel.
The Indian fintech startup's valuation, according to the publication, reached $350 million on the back of the round's completion.
Uni's developers plan to use the funds to pursue expansion plans in the South Asian market.
As part of the project, the developers have created payment cards with installment programs. With their help users can divide payment into 3 parts, which the system automatically distributes for 3 months. The goal of the startup is to attract as many people as possible to the installment market. To this end, the developers waived fees for users who pay the entire amount on time.
