Our portfolio company, Upswing Financial Technologies, has secured $4.2 million in pre-series A funding led by Quona Capital, with participation from QED Investors.
Founded in 2021 by Anupam Bagchi and Nihar Gupta, Upswing’s banking-as-a-service stack aims to help companies launch new banking products in weeks. The platform is customisable, simple, modular and reduce the integration efforts of consumer tech players to launch financial products like savings accounts, deposits and lending services.
Upswing’s low-code banking-as-a-service platform allows client companies to embed banking products. Its multi-bank deposit stack is operational across multiple consumer platforms.
The funds will help the startup to expand its multi-bank deposit product and develop new offerings in deposits and lending.
Speaking on the announcement, Nihar Gupta, co-founder of Upswing, said, “This funding marks a pivotal moment towards our aim to become an ecosystem player providing consumer-centric solutions as well as the right compliance and security infrastructure while we enable companies to ubiquitously offer financial services.”