Setu raises $15 million in Series A

NEW DELHI: Bengaluru-based fintech API infrastructure startup Setu has raised $15 million (Rs 110 crore) in its Series-A funding round, led by New York-based investment firm Falcon Edge Capital and Lightspeed Venture Partners US.

The company’s existing investors — Lightspeed India Partners and Bharat Inclusion Seed Fund — also participated in the new financing round, Nikhil Kumar, cofounder, Setu, wrote in a post on Medium. The startup will use the capital to strengthen its team, roll out a suite of new products, and improve its tech infrastructure, he said.