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Startups

Indian fintech startup with global ambitions raises funds from US

PhoneParLoan helps salaried workers through end-of-the-month cash crunch

India, with hundreds of millions of salaried workers, is gaining importance as a testing ground for fintech startups.   © Reuters

NEW DELHI -- Indian fintech startup PhoneParLoan has raised an undisclosed amount of funding from accelerator MOX, its co-founder Ashwin Bhambri told DealStreetAsia.

MOX is operated by SOSV, a U.S.-based venture capital firm with over $700 million under management. The PhoneParLoan investment marks SOSV's second capital infusion into the startup, currently valued at $7 million.

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