Wednesday, 21 Mar, 7.33 am Your Story

BASIX Sub-K raises Rs 35 Cr equity funding from Accion, Nordic Microfinance Initiative

BASIX Sub-K iTransactions Ltd, a Hyderabad based fintech company, has raised Rs 35 crore from Accion and Nordic Microfinance Initiative (NMI).

Sub-K will use a sizeable amount of the funds for business growth by investing in the expansion of its agent banking network and credit facilitation for micro and small businesses. Some of the amount raised will also be dedicated to strengthening its IT platform that would help the company position itself as a preferred fintech as well as distribution partner for banks and financial institutions.

Founded in 2010, Sub-K serves as a bridge between financial service providers and under-banked customers.