Cashfree said to close its Series B on $35.3m

India-based digital payments app platform Cashfree has reportedly secured $35.3m in its Series B funding round.

Apis Partners served as the lead investor to the round, with contributions also coming from previous Cashfree backer Y Combinator, according to a report from The Paypers.

Cashfree offers payment processing technology that enables companies in India to access digital transactions. Its tools also include auto collect, which automatically track customer payments with virtual bank accounts.

The FinTech was processing around $12bn in annualised payment volume, and has around 50,000 business clients including Ergo, Zoomcar and Acko, the article said.

There have been a number of Indian FinTech companies to close funding rounds in the past few weeks. Digital insurer Turtlemint reportedly closed $30m Series D round earlier in November to help it increase its network of advisors.

Another company to recently close funding was Slice, which reportedly bagged a $5.2m debt facility to increase its lending capacity.

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