Banks, Deals, India, InspirAsia, SME
Google-backed neobank Open acquires Finin for $10 million
Open has acquired consumer neobanking startup Finin for $10 million as the Bangalore-based, Google-backed business-focused neobanking platform looks to broaden its offerings and deepen relationships with banks.
The deal involves both cash and stock, the two said. Launched in 2019, Finin is among the first consumer-focused neobanking startups in India. The startup, which had raised about $1 million from Unicorn India Ventures and others, will see key executives, including the founder and chief executive Suman Gandham, move to Open.