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HomeBusinessStartup 'Open' raised 50 million dollars, became the country's 100th unicorn

Startup ‘Open’ raised 50 million dollars, became the country’s 100th unicorn

Mumbai, May 2 (PTI) Financial technology startup Open has raised $50 million (Rs 382 crore) in an investment round led by financial services firm IIFL.

Startup Open’s existing investors Temasek, Tiger Global and 3One4 Capital also participated in the investment round.

The Bengaluru-based company said in a statement on Monday that with this financing, its valuation has crossed $1 billion. With this, she has become the 100th such ‘unicorn’ of the country, whose valuation is more than one billion dollars.

The company will use this investment to accelerate its existing products, drive global expansion and reach more than five million customers within the next one year.

Significantly, India is the third largest startup ecosystem in the world. The number of unicorn companies in the country has seen a significant jump in the last one year.


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