India got its 100th unicorn when neobanking fintech portal, “Open”, raised fresh capital to push up its value to over a billion dollars. The five-year-old Bengaluru-based neobank raised $50 Mn in a Series D funding round from IIFL, Singaporean state holding company Temasek, American investment firm Tiger Global and another Indian firm 3one4 Capital. This helped its valuation cross the $1 bn mark.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The funding comes just six months after Google, Temasek, Visa, and Japan’s SoftBank invested $100 million in the neobank startup. This funding signifies the enthusiasm in the Indian startup ecosystem, which is the world’s third-largest according to Economic Survey, 2021-22. India overtook the UK to reach the spot after the US and China, which added 487 and 301 unicorns respectively, according to the survey.
Important takeaways for all competitive exams:
Former Suriname President Chandrikapersad Santokhi passed away on the 30th march at the age of…
As you know, LPG is in the news these days , but did you ever…
Honorable Prime Minister of India Narendra Modi has inaugurated the Samrat Samprati Museum in the…
According to a recent analysis by the ICRA the India's GDP growth may slow down…
To improved and Sustainable waste management India had the introduction of the Solid Waste Management…
To make the traditional healthcare knowledge more inclusive India has introduced the AI-driven initiative to…