RootFi Raises $1.5 Million in Seed Funding Round to Fuel Expansion and Innovation in B2B SaaS

• ByStartupStory     |    May 23, 2023

Bengaluru-based business-to-business SaaS startup, RootFi, has successfully secured over $1.5 million in a seed funding round. The funding was led by prominent investors, including Y Combinator, Pioneer Fund, Soma Capital, and others, signaling confidence in the startup’s potential.

RootFi, founded in 2022 by Ishwar Gogineni, Sidharth Rao, and Parth Shah, aims to revolutionize how companies in India, Asia, the Middle East, and Africa access and leverage consented business data. By offering a unified API, RootFi enables B2B companies to seamlessly interact with their customers’ financial data from various platforms, such as accounting, payments, and e-commerce.

With the fresh capital infusion, RootFi plans to accelerate its growth trajectory by scaling its team and expanding its market coverage across different industries, including e-commerce, CRM, and payments. The startup intends to utilize the funds to drive innovation and enhance its service offerings, enabling businesses to streamline credit, underwriting, accounting automation, and overall financial management.

RootFi’s unified API has already gained traction in the market, powering essential financial technology solutions for over 25 fintech, SaaS, and financial institutions. By providing a convenient and secure way for companies to access consented business data, RootFi aims to empower its clients to drive new innovations and make data-driven decisions with greater efficiency.

The recent seed funding round marks another significant milestone for RootFi as it continues to make waves in the B2B SaaS landscape. The startup’s inclusion in the prestigious Summer 2022 batch of Y Combinator further highlights its potential and growth prospects. Y Combinator, known for its track record of nurturing successful startups, has been instrumental in supporting several groundbreaking ventures.

In addition to RootFi, the Y Combinator Summer 2022 batch featured other promising startups such as Landeed, Shelf, Cone, AlgoTest, and HireSure.ai. HireSure.ai, a platform specializing in HR technology, had previously secured $2.5 million in seed funding from Y Combinator and Three State Capital in February.

As RootFi continues to strengthen its position in the B2B SaaS market, the startup’s vision of unlocking new possibilities and empowering businesses with easy access to consented financial data holds great promise. With its latest funding round, RootFi is well-positioned to fuel its expansion, innovation, and make a significant impact on the way companies leverage financial insights to drive growth and success.

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