India-based FPL Technologies has reportedly bagged $10m in its Series A funding round to support the wider distribution of its credit card.
The investment capital was supplied by Matrix Partners India, Sequoia Capital India, and Hummingbird Ventures, according to a report from TechCrunch.
With this fresh equity, the startup plans to distribute its credit card to more customers and expand its product offering. A potential feature could be a subscription tracking tool as well as ways to save money.
FPL Technologies previously raised $4.5m in its seed round last year, the article said.
Founded in 2019, FPL Technologies has created a couple of financial products, with its flagship product being the OneScore. This tool lets users check and monitor credit scores, as well as an AI-powered score planner to improve it.
In June this year, the company released its credit card, OneCard, the article said. There are currently 5,000 cardholders, with another 75,000 on the waitlist.
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