# Open Financial Technologies: Financial services, Bengaluru, India

> Open Financial Technologies: Open Financial Technologies, known as OPEN, is India's largest connected finance platform for businesses and Asia's largest...

Source: https://millionrounds.com/startup/open-financial-technologies (Millionrounds; every figure on the page links to its filing or article)

India · [Financial services startup](https://millionrounds.com/companies)

# Open Financial Technologies

Open Financial Technologies, known as OPEN, is India's largest connected finance platform for businesses and Asia's largest enterprise neobanking platform.

Email

Funding reported Last round: Series D

Financial services Bengaluru, India

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Company summary

- **Founded:** 2017 9 years old
- **Team:** 380 201 to 1,000 people
- **Funding reported:** 190.8M as listed, currency not stated
- **Last round:** Series D May 2022

How sure we are

- ✓ **Listed** We know it exists and what it does
- 2 **Funding reported** A company dataset reports a raise
- 3 **Observed** A filing or a dated announcement confirms a round

No round for Open Financial Technologies has been confirmed by a filing or an announcement yet, so nothing here counts toward an investor's record. [How we decide](https://millionrounds.com/methodology)

## About Open Financial Technologies

Open Financial Technologies, known as OPEN, is India's largest connected finance platform for businesses and Asia's largest enterprise neobanking platform.

Founded in 2017 and headquartered in Bangalore, Karnataka, OPEN has achieved a valuation of over $1 billion, joining the Unicorn Club after raising $50 million in Series D funding in 2022. OPEN provides an AI-native financial operating layer that integrates banking, payments, accounting, and compliance into a single workspace. Its offerings include Open Money, a neobanking platform for SMEs and startups; Zwitch, a no-code embedded finance platform; and a digital banking operating system for financial institutions. The platform connects over 40 banks with a wide range of finance, tax, payroll, and business tools, serving more than 4 million businesses and finance teams. OPEN processes $35 billion in transactions annually and is expanding its reach into the US and UAE markets.

## What company datasets say Open Financial Technologies raised

Funding, as reported

Reported in all **190.8M** in the source's currency

Rounds **8**

Last round **Series D**

Last round size **50M**

Last round date **May 2022**

Investors listed **19**

Valuation **$1.0B, Oct 2024**

## On 7 portfolio pages

Investors who name them

- [Unicorn India Ventures](https://millionrounds.com/fund/unicorn-india-ventures)
- [Yolo Investments](https://millionrounds.com/fund/yolo-investments)
- [Tanglin Venture Partners](https://millionrounds.com/fund/tanglin-venture-partners)
- [Better Capital](https://millionrounds.com/fund/better-capital-2)
- [BetaPlus](https://millionrounds.com/fund/betaplus)
- [VestedVC](https://millionrounds.com/fund/vestedvc)
- [IIFL](https://millionrounds.com/fund/iifl)

Each firm lists Open Financial Technologies on its own website. That is the firm's claim, a weaker thing than a round we watched, but a named source.

## The company, in detail

What they build

Known for

erp integration multi-bank account management health care user experience professional services digital payments consumers sme banking solutions manual payment reduction integrated payroll and accounting reserve distribution manufacturing instant bank payments business payment links transaction monitoring

Built with from their website

Amazon SES Tableau Google Workspace CloudFlare Google Cloud BigQuery Amazon Simple Email Service Hubspot PostgreSQL Sumo OpenAI

+8 more

Google Meet Firebase CloudFlare CDN MySQL Kibana Jenkins WhatsApp CleverTap

- **Sector:** Financial services
- **Industry code:** NAICS 51321, 522320, SIC 7389, 7372, 7374
- **Region:** Karnataka
- **Revenue:** 3.6M a year, as listed
- **Full record:** [Every detail in the company directory](https://millionrounds.com/directory/open-financial-technologies)

## Financial services in India

Startups like it

- [**KreditBee** Bengaluru · founded 2018 *Raised*](https://millionrounds.com/company/kreditbee)
- [**CoinDCX** Mumbai · founded 2018 *Raised*](https://millionrounds.com/company/coindcx)
- [**Navi** Bengaluru · founded 2018 *Raised*](https://millionrounds.com/company/navi)
- [**Scapia** Bengaluru · founded 2022 *Raised*](https://millionrounds.com/company/scapia)
- [**Khatabook** Bengaluru · founded 2018 *Raised*](https://millionrounds.com/company/khatabook)
- [**KredX** Bengaluru · founded 2015 *Raised*](https://millionrounds.com/company/kredx)
- [**Upstox** Mumbai · founded 2009 *Raised*](https://millionrounds.com/company/upstox)
- [**Turtlemint** Mumbai · founded 2015 *Raised*](https://millionrounds.com/company/turtlemint)

## Is this your company?

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