SBM Bank India seeks funding at a valuation of $200 million

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The Indian arm of SBM Bank, one of the banks that has aggressively worked with fintech startups in the South Asian market, is engaging with investors to raise capital and pitching the vision of becoming one of the top banking-as-a-service providers in the country, according to a source familiar with the matter.

The Indian arm is in advanced stages of planning to raise $50 million to $75 million at a pre-money valuation of around $200 million, according to a source who requested anonymity to discuss private matters. The round hasn’t closed yet, so the terms of the deal could change, according to the source. The firm sees deep partnerships with fintech startups like Bengaluru-based Razorpay and Slice as a key growth pillar.

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SBM Bank India seeks funding at a valuation of $200 million

The Indian arm of SBM Bank, one of the banks that has aggressively worked with fintech startups in the South Asian market, is engaging with investors to raise capital and pitching the vision of becoming one of the top banking-as-a-service providers in the country, according to a source familiar with the matter.

The Indian arm is in advanced stages of planning to raise $50 million to $75 million at a pre-money valuation of around $200 million, according to a source who requested anonymity to discuss private matters. The round hasn’t closed yet, so the terms of the deal could change, according to the source. The firm sees deep partnerships with fintech startups like Bengaluru-based Razorpay and Slice as a key growth pillar.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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