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Indian Fintech Uni Raises $70 Million For Its Pay-Later Cards Offering

Dec 15, 2021•almost 4 years ago

Amount Raised

$70 Million

Description

Uni, an Indian startup that offers users pay-later cards, has raised $70 million in a financing round as it looks to broaden its product offerings in the South Asian market.

Company Information

Company

Uni

About

The startup, which uses its own underwriting tech to determine applicants’ credit worthiness, launched the card in June this year and says it is already disbursing $23 million to its customers each month. The startup did not disclose how many users it has amassed, but said its customers are spread across 50 Indian cities. We are delighted to have some of the best investors in the world partnering with us as we gear up for our next phase of growth.”In an interview with TechCrunch, Gupta said the startup is working on developing a number of new features and aims to expand its monthly disbursement to $197 million in the next nine months. The new round, which follows last year’s $18.5 million seed funding, values Uni at about $350 million, according to two people familiar with the matter. TechCrunch reported earlier that Uni was in talks to raise a round at over $300 million valuation. Uni is among a handful of startups in India that is attempting to bring the benefits of credit cards to the masses.