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AI startup Signzy raises Rs 40 cr led by Arkam Ventures, Mastercard

Signzy, an AI startup, has raised Rs 40 cr led by Arkam Ventures and Mastercard. Signzy’s existing investors, Kalaari Capital and Stellaris Venture Partners also participated in the round. Signzy provides digital KYC solutions to over 100 BFSI firms including Aditya Birla Sunlife AMC, BoB, SBI, ICICI Bank and Mastercard. “We plan to strengthen our AI research and global sales to tap into the increased demand of digital product and services”, said co-founder Ankit Ratan.

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Mastercard-Signzy’s worldwide launch of video KYC

Mastercard partnered with Signzy, a RegTech startup, to enable the latter’s video-based KYC (Know Your Customer) solutions for its banking customers. This will allow Mastercard to provide a completely paperless, remote and secure onboarding solution for end-users. In India, this launch will further Mastercard’s goal of driving inclusive growth via financial inclusion by enabling individuals and small businesses to go online.

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B2B Start-ups to go on hiring spree, starting package Rs 10 Lakh a year

B2B start-ups PhonePe (360), Signzy (60), Rapid Delivery (500), Razorpay (100), Cashfree (70), Simplilearn, Instamojo have nearly 1500 job openings in product development, business operations, technology, analytics, sales, marketing. Packages start at Rs 10 LPA, and go up to Rs 40-50 lakh. Conversely, Oyo, Curefit, Swiggy, Bounce have fired hundreds of employees. COVID-19 induced lockdown didn’t hurt B2B start-ups as much as it did to the consumer startups.

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