EximPe raises $3.5 Mn in funding led by Leo capital.
- ByStartupStory | April 12, 2022
EximPe, a business-to-business (B2B) fintech platform, has raised $3.5 million in a seed round headed by Leo Capital, an early-stage venture capital firm. RB investments, Founder Bank Capital, iSeed Ventures, 2 am VC, LetsVenture, and BoldCap, all based in Singapore, also took part in the capital round.
Kunal Shah, creator of Cred; Rajesh Raju, managing director of Kalaari Capital; Aprameya Radhakrishna, co-founder of Koo; and Ankit Nagori, founder of Curefoods, were among the notable angel investors that participated in the round. The fintech startup announced on Monday that it will use the fund to hire more employees and improve its services.
EximPe was founded in June 2021 by Arjun Abraham Zacharia with the goal of facilitating cross-border trade by digitizing workflows and providing financial services in collaboration with some Indian institutions. EximPe intends to reach a TPV (Total Payment Volume) run rate of $100 million before the end of the year.
Exporters of MSME (micro, small, and medium enterprises) face lengthy payment cycles. In India, export finance, often known as cross-border finance, is still in its infancy. Export finance services and products are provided by banks such as Exim Bank and Bank of India. EximPe competes with Drip Capital, Salt, Wallex, Indo Docs, Mundi, and TerraPay, among others.
EximPe is currently functioning along the India-China, India-Gulf Cooperation Council, and India-Asean trade channels. It is collaborating with a number of SMEs to help them expand their export and import volumes by providing a digital platform.
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