- Chennai-based startup provides an API platform to more than 200 fintechs
- Series A round was led by BEENEXT, which has made early stage investments in BharatPe, OpenBank, Shubloans, and SafeGold
YAP, an API fintech platform, has raised $4.5 million in its Series A round of funding led by Singapore-based venture capital firm BEENEXT. The company was founded by Prabhu Rangarajan.
The startup will utilize these funds to strengthen the team, build technology, and offer enhanced API products to fintech with specific focus on enabling access to credit, corporate banking solutions, cross border payments, and the freshly minted Neo banking stack.
In a media statement, Prabhu Rangarajan, Co-founder, YAP, shared,
“Our platform is connected to 15 banks in India and by leveraging technology we are accelerating the paradigm shift in sacheting of financial services by new cohorts of distribution, leading to lowering costs, enhancing access, and better value proposition to end consumers.”
YAP currently provides API-based financial services access to over 200+ fintechs, and the company had raised over $1 million in angel financing earlier this year.