What is Cashfree? Cashfree Review

Basic Introduction

Cashfree was founded in July 2015 and is committed to providing Indian businesses with payment gateways, remittance APIs, NEFT reconciliation, marketplace settlements and subscription services. Through the platform, users can automate inbound and outbound bank transfers, allowing Indian businesses to automate bank transfers and accept credit card payments and marketplaces, allowing marketplaces and fintech companies to build payment processes around receiving and paying funds.

Founding Background

Cashfree's initial "seed customers" were these night-time restaurants, which replaced cash payments with web link payments, laying the foundation for an "online, cashless" basic payment model. Later, Cashfree expanded its functions and became a payment gateway. Unlike Indian payment giants Paytm and PhonePe, Cashfree has always targeted B-side users and maintained cooperative relationships with major payment wallets.

Financing

In August 2017, Cashfree received a seed round of financing of US$120,000 exclusively invested by Y Combinator;

In April 2019, it received US$5.5 million in Series A financing from Y Combinator, Smilegate Investment and other individual investors.

In October 2020, Indian online payment platform Cashfree announced plans to raise US$25 million. After this round of financing, Cashfree's valuation will reach US$150 million.

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