Google and Temasek back Indian neobank Open in $100 million funding

Google has invested in Bangalore-based Open, becoming the latest high-profile investor to back a neobanking platform.

Open said on Tuesday it has raised $100 million in a Series C financing round. Singapore’s sovereign wealth fund Temasek led the round, and Google and Japan’s SBI Investment (not to be confused with India’s SBI bank) as well as existing investors Tiger Global and 3one4 Capital participated in it.

The new round, which brings the four-year-old startup’s all-time raise to $137 million, values Open at $500 million.

Read more: TechCrunch