Enkash raised $20 million in its Latest Fundraising Round

In its latest fundraising round, Corporate spend management startup Enkash announced that it has raised $20 million. This funding round was led by Ascent Capital along with Baring India Private Equity Partners and Singapore-based White Ventures, backed by fintech entrepreneurs Amrish Rau and Jitendra Gupta. The funding round also saw the participation of its existing investors Mayfield India and Axilor Ventures. The startup offers a payments management platform for companies. The startup further informed that it intends to use the funds raised to enhance its services, scale up its ‘plug and play’ cards issuance stack, and to expand further in new regions. Co-founder of Enkash, Hemant Vishnoi after the fundraising round said: “We intend to make our presence globally, especially in MENA (the Middle East/North Africa) and Southeast Asian countries with the current investment...most of the investment will also go into product and technology development and hiring and scaling up in India. We will also expand further in capturing the market in India.” Previously, Enkash in its Series A funding round has raised $3 million which was led by Mayfield and Axilor Ventures. Its seed funding was led by Axilor Ventures.