Bengaluru fintech startup Recko raises US$6M Series A from Vertex Ventures

Recko, an enterprise fintech startup based in Bengaluru, India, has secured US$6 million in Series A funding from Vertex Ventures SEA and India. City-based Prime Venture Partners also participated in the round.

The company claims to have accepted transactions worth US$5 billion, and is currently looking to reconcile transactions worth US$10 billion by the end of 2020.

Founded in 2017 by serial entrepreneurs Saurya Prakash Sinha and Prashant Borde, Recko has partnered with various banks, NBFCs and insurance companies and is currently running pilots with them.

“Transaction reconciliation is not a new problem, but the nature and extent of this problem have changed due to rapid digitisation of transactions and massive count of B2C transactions, especially in internet companies. Over the time we have evolved to add COD, Logistics and Aggregator reconciliation to make it a complete receivables suite,” said Sinha.

Source: e27
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