Latest news with #SAnand
Finextra
20-05-2025
- Business
- Finextra
Indian business banking fintech PaySprint banks first $1.2 million of $3 million Series A
PaySprint Private Limited, one of India's fastest-growing fintech and regtech companies, had set out to raise a total of $3 million USD, out of which $1.2 million USD in the first tranche, has been successfully raised. 0 The remaining ₹15 crore is expected to follow in the second tranche, further strengthening PaySprint's vision of building the digital infrastructure powering Bharat's financial future. 'This is not just a fundraise—it's a milestone moment,' said S Anand, Founder & CEO of PaySprint. 'We've gone from one product to powering end-to-end journeys for NBFCS, fintechs, platforms, and enterprises. With SprintNXT and our newly launched escrow stack, we're solving problems that used to take months and multiple vendors to fix—now done in days, under one roof.' A Journey From One Product to an Integrated Growth Platform PaySprint began in Dec'2020 with a singular mission: to simplify the back-end of business banking. Over time, that vision evolved into a full-scale financial ecosystem with platforms that now serve thousands of businesses across India. At the centre of this growth is SprintNXT, PaySprint's flagship Business Banking Switch, which powers: ● Connected banking platform ● Smart payouts and real-time collections ● Automated reconciliation ● Actionable financial insights SprintNXT has emerged as the go-to for enterprises seeking scalability, compliance, and smarter cash flow management. And alongside it, SprintVerify—PaySprint's comprehensive verification engine—has become the trusted backbone for onboarding, KYC/KYB, and identity checks across PAN, Aadhaar, RC, bank accounts, and more. Providing 120+ APIS, it plays a vital role in enabling businesses to verify with speed and confidence. Escrow, Reimagined: The Trust Layer for Bharat's Digital Economy Building on its robust foundation, PaySprint is now aiming high for the next frontier: Escrow Infrastructure. The company celebrated its fastest launch: • SprintEXcrow - A secure, compliant Escrow-as-a-Service platform for digital platforms, marketplaces, and lending ecosystems. • SprintEX-code - A physical and cloud-based software escrow platform, offering source code protection for regulated entities, ensuring compliance and business continuity. These offerings fill a long-standing trust gap in India's digital economy—bringing speed, security, and regulatory comfort into transactions from day one. 'This is how we see the future: interconnected platforms solving real problems, not fragmented tools stitched together,' added Anand. 'With SprintNXT, SprintVerify, and now our Escrow Stack, PaySprint is not just offering services—we're offering scale.' FY 25-26: A Roaring Start and a Smarter Future With this fundraise and momentum, PaySprint is setting the tone for FY 25-26. The fresh capital will be used to: • Deepen adoption of SprintNXT and Escrow Infrastructure • Expand AI capabilities for onboarding, fraud detection, and workflow automation • Build stronger banking and enterprise partnerships • Grow the product and engineering teams
Entrepreneur
20-05-2025
- Business
- Entrepreneur
PaySprint Raises USD 3 Mn in Series A Funding
The fresh capital will be used to deepen adoption of PaySprint's SprintNXT and Escrow Infrastructure, expand AI-driven capabilities in onboarding and fraud detection, strengthen banking and enterprise partnerships, and scale its product and engineering teams. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Delhi-based fintech and regtech startup PaySprint Private Limited has raised USD 3 million in its Series A funding round to fuel the next phase of business banking innovation. The round is being completed in two tranches, with the first USD 1.2 million already secured and the remaining INR 15 crore expected soon. The fresh capital will be used to deepen adoption of PaySprint's SprintNXT and Escrow Infrastructure, expand AI-driven capabilities in onboarding and fraud detection, strengthen banking and enterprise partnerships, and scale its product and engineering teams. "This is not just a fundraiser—it's a milestone moment," said S Anand, Founder and CEO of PaySprint. "We've gone from one product to powering end-to-end journeys for NBFCs, fintechs, platforms, and enterprises. With SprintNXT and our newly launched escrow stack, we're solving problems that used to take months and multiple vendors to fix—now done in days, under one roof." Founded in December 2020 by S Anand, Deepankar Agarwal, and Satnam Kaur Sachdeva, PaySprint provides open banking API solutions through a unified platform tailored for banking and payments. Over the years, the company has grown from a single-product focus to building a full-fledged digital financial infrastructure. At the heart of PaySprint's offerings is SprintNXT, a comprehensive Business Banking Switch that enables: Connected banking and smart payouts Real-time collections and automated reconciliation Actionable financial insights for enterprises In parallel, SprintVerify, PaySprint's robust verification engine, powers onboarding and identity checks across over 120 APIs, including PAN, Aadhaar, RC, and bank account verification. The company is now entering the next frontier with SprintEXcrow, an Escrow-as-a-Service platform for digital platforms and lending ecosystems, and SprintEX-code, a physical and cloud-based software escrow platform ensuring source code protection and regulatory compliance. "These offerings fill a long-standing trust gap in India's digital economy," Anand said. "With SprintNXT, SprintVerify, and now our Escrow Stack, PaySprint is not just offering services—we're offering scale." With FY 25–26 off to a dynamic start, PaySprint is positioning itself to lead the next wave of fintech innovation by simplifying and scaling India's business banking infrastructure.
