API platform YAP announced that it has raised ₹10 crore in it’s first financing round. A clutch of super angels led by Amrish Rau with participation from Jitendra Gupta Founder – Jupiter, Kunal Shah of CRED, Vikram Chachra, entrepreneur turned VC of 8i Ventures, Abhishant Pant – FinTechMeetUp & Peifu Hsieh of Karbon participated in the funding round.
The company will use the fresh capital to use the funds to accelerate growth expand its team to develop new Banking products.
As part of funding, Amrish Rau will join the YAP’s board.
Madhusudanan R, Co-founder, YAP, said, “We are at the center of API based Banking and Payments in India and look forward to scale (ing) our platform across Asia. We pride ourselves as the platform of choice for fintechs & businesses in India. The funding round by India’s leading fintech entrepreneurs is a terrific validation of our model.”
Amrish Rau, said, “One of the most cumbersome part for any Fintech journey is the bank platforms integration and development of core payments and card technologies. YAP has already built the bank integration pipes and provided this in an easy to use micro services architecture, which can be consumed by any Fintech.”
Based in Chennai, YAP is the API standard for Banking and Payments products in India, the Company’s API’s powers some of the most innovative Fintechs and all products are backed by leading financial Institutions.