Banking infra startup Spense secures $2. 8 Mn in seed funding
The fresh funds will be used to deepen banking partnerships, accelerate product development, expand its engineering and go to market teams, and launch Credit Line on UPI (CLOU),New UpdateBanking. . .
The fresh funds will be used to deepen banking partnerships, accelerate product development, expand its engineering and go to market teams, and launch Credit Line on UPI (CLOU),New UpdateBanking infrastructure startup Spense has raised $2. 8 million in a seed funding round led by Arkam Ventures, with participation from Razorpay Ventures, GrowthCap Ventures, and Atrium Ventures. The round also saw participation from angel investors including Kunal Shah, Madhusudhan E, Ravishankar, Suresh Rayasam Venkatasubbaih, and Sayandeb Banerjee. The fresh funds will be used to deepen banking partnerships, accelerate product development, expand its engineering and go to market teams, and launch Credit Line on UPI (CLOU), Spense said in a press release. Co-founded in 2022 by Pawan Kumar and Srinivas Krishnamurthy, Spense enables banks to launch credit cards and credit lines backed by customer assets without replacing their existing technology infrastructure. The startup's bank native platform connects core banking systems, deposit systems, and card management systems in real time, enabling financial institutions to launch modern credit products significantly faster than traditional approaches. The platform is powered by AI. Spense deploys agentic AI to automate workflows that have historically required large operations teams for onboarding, servicing, collections, and customer support. These autonomous agents run continuously, handling the operational complexity that has long made scaling secured credit products expensive and slow. Subscribe to our Newsletter!Be the first to get exclusive offers and the latest news