API infra firm Setu raises $3.5m seed

BENGALURU: Application Programming Interface (API) infrastructure startup Setu has raised $3.5 million in a seed round led by Lightspeed India Partners besides participation from Bharat Innovation Fund. Setu was founded by Sahil Kini, a principal with Aspada Investments, and Nikhil Kumar, a fellow at iSPIRT Foundation.

It offers APIs across bill payments, savings, credit and payments. Being brought together three years back by Infosys cofounder Nandan Nilekani, Kini and Kumar had worked together on creating a strategy document at iSPIRT for Unified Payments Interface adoption.