Paytm backed cross border payment processing startup Fable Fintech raises Series A Funding
Mumbai based B2B cross border payment processing startup, Fable Fintech on Wednesday (June 2) announced it has raised an undisclosed amount in Series A funding round. The round was led by India based investors including venture capital fund Pentathlon Ventures, stock market investors Ashish Kacholia & Lashit Sanghvi and former Wall Street banker Sumeet Kanwar along with participation by existing investors Paytm and Infibeam Avenues.
Apart from Paytm and Infibeam Avenues, current shareholders in Fable include ICICI Bank, Secocha Ventures, Parekh Family of Pidilite Industries and Muthoot Fincorp.
The company added that these fresh funds are mainly intended towards the expansion of the company’s product footprint across Asia, North America, the Middle East & African markets. It will also continue to invest in new products to enrich its portfolio and expand its execution capabilities.
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