Payments Startup Remitr Raises $1 Million in Seed Funding, Eyes on Expansion

Remitware Payments Inc, whose cross-border payments platform ‘Remitr’, helps individuals & businesses make international payments & remittances has secured a seed fund of $1 Million from a motley group of startup founders and angel investors from across the world.

The seed round investors in the startup include Pravin Gandhi founder of Seedfund, UAE’s Smart Start Fund founded by Prashant Gulati & Amit Singhal, Vijay Shekhar Sharma founder of Paytm, Kunal Shah & Sandeep Tandon founders of FreeCharge, Vishal Gondal founder of Goqii, Nasreddine Benaissa of Mawarid group, Laurent Nordin of McKinsey & Co, Japan Vyas of Sixth Sense Ventures, Yezdi Lashkari founder of Flexmoney, Nirmal Bhogilal of Batliboi, Singapore Angel Network, Operator VC, Germinators fund and a few other technology entrepreneurs and angel investors based in the US, UK and India

Founded in 2015 by Kanchan Kumar, Sandeep Jhingran and Sandeep Todi, ‘Remitr’ is a mobile platform, offering its users personalized, secure and convenient payments on the go. Remitr’s platform routes end-to-end payments using its proprietary payment network which integrates with clearing systems and third party payment networks in various countries.

Commenting on the funding, Kanchan Kumar, Co-founder and CEO of Remitr said, “Remitr revolutionizes the way people make payments and send money back home using their mobile phones, bypassing prevalent legacy platforms which are both cumbersome and costly. The seed investment would help us invest further in product development for global markets. We are already live in UAE and on course to launch in Canada by the end of this year.”

The company is planning to expand operations into the US, UK, Europe, Far East and Australia.