Home FinTech Fintech startup Durianpay secures US$1.4M in Sequoia-led seed round

Fintech startup Durianpay secures US$1.4M in Sequoia-led seed round

Fintech startup Durianpay secures US$1.4M in Sequoia-led seed round
Fintech startup Durianpay secures US$1.4M in Sequoia-led seed round

Durianpay, a Singapore-based fintech startup has secured US$ 1.4 million in a seed funding round held in November 2020. This was led by Sequoia Capital India, with other participants including Kenangan Investment and United Family Capital. The startup is aiming to use this investment to create its founding team across Jakarta, Bangalore, and Singapore to begin with.

The fresh capital gives the payments and checkout solutions provider a post-money valuation above US$6.7 million, according to the Accounting and Corporate Regulatory Authority filings. The data pointed out that Sequoia’s SCI Seed Investment vehicle led the fundraising, adding over US$ 1.3 million alone for 2,731 shares.

The startup’s vision is to build modern payment solutions which can help in improving customer as well as merchant experience in South East Asia. The company has identified a huge potential in this market and in the last few years, the consumer side boomed leading to the birth of some of the biggest e-commerce startups and super apps of the world. DurianPay sees great opportunity in building localized solutions in the region for businesses to manage their payment processes better and faster. 

It has built fintech products and led teams for companies like Citruspay, OnlinePajak, Moonfrog and Zynga. According to Durianpay, digital payments in South-East Asia are predicted to grow at 10 – 13% CAGR during the next few years, with gross transaction values expected to cross US$1 trillion 2025.

About Durianpay

Durianpay
Durianpay

Founded in 2020, Durianpay was named after the Durian, a south-east Asian fruit known as the “king of fruits”, which is known for its thorn-covered body and strong smell. The company was co-founded by Kumar Pushpesh and Antara Sara Mathai, with headquarters in Singapore.

The company has a group of passionate and experienced team builders who can work with large scale product development and fintech experience, especially payments and payments services along with regional knowledge related to South East Asia. 

About Sequoia Capital India

Sequoia Capital India
Sequoia Capital India

Sequoia Capital India helps experimentative founders build legendary companies, from the first idea to IPO and beyond. The company operates in Southeast Asia and India where they actively partner with founders from a huge range of companies, across various categories, including BYJUs, Carousell, Druva, GO-JEK, OYO Rooms, Tokopedia, Truecaller, Zilingo, Zomato, etc.

https://www.dropbox.com/hWhen partnering with Sequoia, startups receive 47 years of knowledge and experience the firm has built from working with companies like Airbnb, Alibaba, Apple, Dropbox, Google, JD.com, LinkedIn, Meituan and Stripe early on. It was founded by KP Balaraj, Raj Dugar, Sandeep Singhal, SK Jain and Sumir Chadha in 2000.

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