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Open

bankopen.co

Founded Year

2018

Stage

Series D | Alive

Total Raised

$187.4M

Valuation

$0000 

Last Raised

$50M | 7 mos ago

About Open

Open develops a digital banking platform designed to offer efficient and secure banking services and automate business payments. The company's platform includes a digital business account that can be activated using a fully digital onboarding process and comes with integrated GST-complaint invoicing, bookkeeping, payments, API banking, and more. It was founded in 2017 and is based in Bengaluru, India.

Headquarters Location

2nd Floor, No. 80, Gayathri Mansion Outer Ring Rd, Bellandur

Bengaluru, 560103,

India

Open's Product Videos

Banking Feature - Open.png

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Open's Products & Differentiators

    Banking

    - Open provides a online business account & a virtual debit card that brings together all business finance related processes like payment collection & payouts, accounting, expense management, payroll & compliance. - Offers multi-bank connect feature that allows businesses to connect & manage all existing bank accounts in one place

Expert Collections containing Open

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Open is included in 4 Expert Collections, including Banking.

B

Banking

990 items

U

Unicorns- Billion Dollar Startups

1,201 items

S

SMB Fintech

1,230 items

F

Fintech

3,619 items

Open Patents

Open has filed 1 patent.

The 3 most popular patent topics include:

  • Data management
  • Network protocols
  • Content management systems
patents chart

Application Date

Grant Date

Title

Related Topics

Status

1/30/2019

11/29/2022

Facebook employees, Facebook, Virtual assistants, Machine learning, Social networking services

Grant

Application Date

1/30/2019

Grant Date

11/29/2022

Title

Related Topics

Facebook employees, Facebook, Virtual assistants, Machine learning, Social networking services

Status

Grant

Latest Open News

SBM Bank India partners with Open to launch new embedded finance platform, Zwitch

Nov 30, 2022

By Leandra Monteiro Share SBM Bank India and Open Financial Technologies Pvt Ltd announced a strategic partnership to launch an end-to-end Embedded Finance platform, Zwitch. The platform will offer a no-code, low-code, and full-stack API solution that enables FinTechs to build their own financial products using its technology stack, comprising of a drag-drop dashboard, low-code plugins along with 300+ APIs. Non-FinTechs like SaaS platforms, health techs etc. can also use this platform to embed financial features into their product or service. Using a service like Zwitch significantly reduces the go-to-market timelines for these businesses, increases their revenue streams, and creates newer avenues to engage with existing and new users. For instance, ERP and payroll companies can embed banking and cards into their products, retail stores can offer co-branded cards or pay-later solutions to their customers. Speaking of the partnership, Open, Co-founder and CEO, Anish Achuthan added, “This is a very important partnership that helps democratize fintech for everyone including banks, fintechs, startups, small businesses and more. Through our interactions with businesses, we identified the need to embed financial features like savings accounts, credit & debit cards, lending etc. that can open-up new streams of revenue generation and profitability. If these businesses were to take the traditional route of building the technology and getting the required compliances in place, it will take them more than 18-24 months to get an MVP done apart from the high costs involved. With Zwitch, we have built the technology ensuring businesses can embed financial features in a matter of weeks, at 10x lesser cost using our no-code drag’n’drop widgets or full stack APIs for developers, and without having to worry about compliances. This is going to democratize fintech for all and redefine the Indian business landscape and we are happy to partner with SBM Bank India to amplify this mission.” Neeraj Sinha, Head – Retail & Consumer Banking, SBM Bank India added, “We have been most vocal supporters and implementors of digital banking in the country. At SBM Bank India, we believe that a diverse and huge country such as India can have no absolute solution to grow, but a blend of various inclusive, collaborative, customized and consistent strategies, and offerings. Our partnership with Zwitch will enable us to further strengthen our value proposition and open new doors for those aspiring to tap digital banking to make a positive difference in and around them.” Previous Article Digital monthly issue Global coverage

Open Web Traffic

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Open Frequently Asked Questions (FAQ)

  • When was Open founded?

    Open was founded in 2018.

  • Where is Open's headquarters?

    Open's headquarters is located at 2nd Floor, No. 80, Gayathri Mansion, Bengaluru.

  • What is Open's latest funding round?

    Open's latest funding round is Series D.

  • How much did Open raise?

    Open raised a total of $187.4M.

  • Who are the investors of Open?

    Investors of Open include 3one4 Capital Partners, Tiger Global Management, Temasek, IIFL, Visa and 19 more.

  • Who are Open's competitors?

    Competitors of Open include Fi and 8 more.

  • What products does Open offer?

    Open's products include Banking and 4 more.

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Fi is a neo-banking platform focused on serving millennials in India. It aims to help users better understand how they are spending money, and guide them to make better investments and increase their savings. The company was formerly known as epiFi. It was founded in 2019 and is based in Bengaluru, India.

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Niyo

Niyo is focused on creating banking that is simpler, smarter and safer for our customers by simplifying finance with technology. The company provides a single card for all employee payouts, which is linked to web and mobile platforms. Niyo was founded in 2015 and is based in Benglauru, India.

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Freo

Freo operates as a credit-led mobile neobank based in India. It offers a range of applications that serve as saving accounts, credit lines, credit cards, pay later apps, and that help to optimize financial utilities.

W
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Walrus offers a neo-banking platform aimed at teenagers to help them learn about and improve their finances.

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LoanTap

LoanTap is an online platform committed to deliver customized loan products.

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