Open provides a platform for business payments and connected banking, enabling businesses to manage financial operations through a unified interface. The platform allows companies to connect bank accounts, send and receive payments, create invoices, track receivables, and reconcile transactions with accounting software. Open also supports payroll management, expense tracking, tax filing, multiple payment methods, and automated reconciliation for growing businesses.
Keep reading to explore Open’s funding history, investors, and growth strategy.
What Is Open and What Does It Do?
Founded in 2017, Open is a banking technology platform designed for startups, SMEs, and enterprises. The company focuses on simplifying business banking by integrating payments, accounting, and financial workflows into a single platform.
Open partners with banks to offer connected banking services while enabling businesses to automate reconciliation, manage cash flow, and streamline financial operations efficiently.
How Much Funding Has Open Raised?
1. Seed Round
- Amount Raised: ~$2 million
- Date: 2017
- Key Investors: Early-stage investors
- Purpose: Build initial product and banking integrations
2. Series A Round
- Amount Raised: ~$5 million
- Date: 2018
- Key Investors: BEENEXT, early fintech investors
- Purpose: Expand product capabilities and onboard SME customers
3. Series B Round
- Amount Raised: ~$37 million
- Date: 2020
- Key Investors: Temasek, BEENEXT
- Purpose: Scale payments infrastructure and grow banking partnerships
4. Series C Round
- Amount Raised: ~$92 million
- Date: 2021
- Key Investors: Temasek, Tiger Global
- Purpose: Accelerate platform expansion and enterprise adoption
5. Series D Round
- Amount Raised: $50 million
- Date: May 02, 2022
- Valuation: $929 million
- Key Investors: India Infoline, Arvon Investments
- Purpose: Strengthen balance sheet and expand financial services suite
Total Funding Raised: $186 million Latest Funding Date: May 02, 2022 Latest Valuation: ₹7,300Cr Employee Count: 254
Key Investors
- Temasek
- Details: Global investment company headquartered in Singapore
- Focus Areas: Financial services, technology, and consumer platforms
- India Infoline
- Details: Indian financial services group with lending and investment arms
- Focus Areas: Fintech, capital markets, and financial infrastructure
- Arvon Investments
- Details: Investment arm of the Lalbhai Group
- Focus Areas: Technology-enabled financial services
Where Is Open’s Headquarters?
Open is headquartered in Bengaluru, Karnataka, India, serving as the company’s central hub for product development, partnerships, and operations.
What’s Next for Open?
Open aims to expand its connected banking ecosystem, deepen integrations with banks and accounting platforms, and enhance automation across payments, compliance, and financial management for businesses.
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