PaySprint, fintech company, has announced it has raised seed capital funding from Fino Payment Bank. Fino is acquiring 12.19 percent stake in PaySprint.
Speaking about this development, Rishi Gupta, the MD & CEO of Fino Payments Bank, “We are now partnering with new age technology companies that will transform the digital banking space in the days to come.”
S Anand, the co-founder and CEO of Paysprint, said, “At PaySprint, we are extremely delighted to partner with Fino Payments Bank and synergise our technical expertise to innovate and create new banking products and solutions that will lead to larger consumer adoption, interface and delight & transform how Bharat transacts”.
FY22 was the first full year of operations for PaySprint and it achieved an annual GMV of Rs 5,500 crore. The strong growth momentum is expected to continue in FY'23 as well. It also onboarded more than 600 partners across banks, NBFCs, MSMEs, fintechs and various other startups during the year, it said in a press statement.
Ashish Ahuja, the Chief Operating Officer of Fino Payments Bank, said, “As a Bank, our focus is to deliver superior and secure customer service at the last mile and innovate on scalable banking and payments solutions. In order to add more use cases for our customers within our ecosystem, we fall back to our DTP (Distribution, Technology and Partnership) philosophy of partnering with new age technology companies that can deliver the best solutions”.
