HiWi, Fintech Startup Led by Dewang Neralla, Raises INR 7.25 Crores

• ByStartupStory     |    October 19, 2023

HiWi, a global cross-border remittance fintech platform, has successfully raised INR 7.25 crore in pre-seed funding. Leading the investment are Unicorn India Ventures and the Unmaj Group Family Office. The funds will be allocated towards advancing product development and executing a strategic go-to-market rollout. HiWi, headquartered in Mumbai, was co-founded by Dewang Neralla, a seasoned fintech entrepreneur and former Founder and CEO of Atom Technologies, along with Geeta Chauhan and Ujwal Tamminedi, experienced professionals in the information technology and services sector.

HiWi aims to simplify cross-border payments across various sectors, including Study Abroad, Trade & Finance for SMEs, and industries with complex procedures. Their initial offering targets remittances for students studying abroad, providing a comprehensive suite of financial services for both study abroad agents and students. The platform offers a user-friendly mobile application for students to transfer funds, open foreign bank accounts, access financing options, manage card expenditures, and maintain compliance with regulatory requirements. HiWi has ambitious goals, including assisting more than 25,000 students in remitting USD 100 million by March 2025 and onboarding 5,000 educational consultants onto its platform.

Dewang Neralla, Founder of HiWi, expressed his gratitude for the support from Unicorn India Ventures and Unmaj Group. HiWi plans to expand its services to cater to SMEs in the future, further streamlining the remittance process. Anil Joshi, Managing Partner at Unicorn India Ventures, sees immense growth opportunities for HiWi, as it combines technology to address the need for facilitating easier and more convenient cross-border payments for students and parents, initially focusing on foreign admission but with plans to expand into other use cases.

About HiWi (High Speed Wire): HiWi is a next-gen global cross-border fintech platform provider with a strong focus on simplifying payment processes and providing a wide range of services for students and businesses, particularly in the context of cross-border remittances. 

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Its core features include a global cross-border fintech platform designed for international payments and financial transactions, streamlining international payment processes, offering a variety of financial services, digitally oriented services available online and via mobile apps, a scalable cloud-based infrastructure, and integrations with AI models like ChatGPT to enhance customer support and interaction through AI-driven chatbots, ultimately aiming to improve the user experience through modern technologies.

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