BASIX Sub-K iTransactions Ltd, a Hyderabad-based company focused on financial inclusion, raised Rs. 350 million to deepen their efforts towards greater financial inclusion in India.
Sub-K will use a sizeable amount of the funds for business growth by investing in the expansion of its agent banking network and credit facilitation for micro and small businesses. Some of the amount raised will also be dedicated to strengthening its IT platform that would help the company position itself as a preferred FinTech as well as distribution partner for banks and financial institutions.
The deal was enabled by Intellecap's In vestment Banking Group