Fintech startup Hyperface raises $1.3M from CRED’s Kunal Shah, Better Capital, GFC

• ByAyushi Ray     |    October 5, 2021

Fintech startup Hyperface raises $1.3M from CRED’s Kunal Shah, Better Capital, GFC. The startup will use the funding to strengthen its tech platform, launch card programmes, grow its team, and accelerate growth. Founded in 2021 by R.V. Ramanathan, ex-CTO of Juspay, and banker-turned-entrepreneur Aishwarya Jaishankar, Hyperface helps companies launch their own credit card programme in a matter of 4-8 weeks, as opposed to 18-24 months. Ram and Aishwarya setup Hyperface after they realised that fintechs, neobanks, and other companies often had to go through a complex, lengthy process to launch their own credit card programmes, and that integrating with the banks they were launching it with required extensive regulatory footwork. Even after companies managed to clear those hurdles, engagement was an issue, which existing models did not properly solve.

“We both really believe that integrating with banks should be simple and seamless, allowing entrepreneurs to spend their valuable time refining their valuable ideas and building great value propositions to their customers,” the co-founders said. Hyperface offers two products currently: CCAAS: Credit card as a service stack, which helps fintechs, neobanks and companies define everything from their onboarding processes to card controls — basically the entire customer life cycle, and BNPL on prepaid: The startup says it has partnered with leading prepaid payment instruments for the offering. The startup’s key clients include ecommerce companies, neobanks and fintechs looking to offer credit cards to their customers. It earns its revenue via the pay-as-you-use pricing model.

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