Open Getting Traction as the Neo-Bank for Businesses in India

Open is based in Bangalore and is looking to replicate a strategy which has been successful in other regions; their offering includes many features of a traditional bank account alongside other tools to help businesses manage all aspects of their business including payments, other bank accounts, bookkeeping, and spending; they have raised $30 million in their Series B round which included Speedinvest who has invested in both Tide and N26; Open already has a partnership with ICICI Bank which is one of the biggest banks in India; they are signing up around 20,000 customers each month and processed $5 billion in transactions last year. Source

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!

[class^="wpforms-"]
[class^="wpforms-"]