Friday, 24 March, 2023

Amazon, Google, Visa eyeing stake in India's neo-banking start-up 'Open'

<p>Amazon, Google, and Visa, separately, are trying to acquire a stake in Bengaluru-based neo-banking startup Open. Open&#39;s valuation, post-deal, will multiple three times to hit $600-700 mn. Open&#39;s growth, in the last 18 months, has jumped ten times. The start-up offers business banking, payments, and expense management services to over a million SMEes. It is, at present, valued at $100-$120 mn and claims to have processed $24 bn in transactions annually.<br /> &nbsp;</p> <p>&nbsp;</p>