EnKash, a Mumbai, India-based all-in-one Spends Management Platform and Corporate Cards company, raised $20 million as a part of its Series B funding.

The round was led by Ascent Capital and joined by Baring India & Singapore-based White Ventures, with participation from existing investors, Mayfield India, and Axilor Ventures.

It intends to further expand its offerings with the infusion of fresh capital and lead the space with innovative offerings around banking-as-a-service, scaling up its ‘plug and play’ cards issuance stack and plans to expand its geographical presence on the international front.

Company: Nehat Tech Solutions Pvt. Ltd. 

Raised: $20.0M

Round: Series B

Funding Month: April 2022

Lead Investors: Ascent Capital

Additional Investors: White Ventures, Mayfield India, and Axilor Ventures

Company Website: https://www.enkash.com/

Software Category: all-in-one Comprehensive Corporate Cards & Payments Platform

About the Company: Founded by veterans in the cards and payments space - Naveen Bindal, Hemant Vishnoi, and Yadvendra Tyagi. EnKash is an all-in-one comprehensive commercial payments platform, one of the fastest-growing platforms in the B2B space, enabling businesses to digitize and simplify their commercial payments. EnKash has been able to create unique value with the combination of platform and cards. EnKash offers a range of corporate cards from managing purchases like supplier/ utility/ tax payments, expenses like travel & entertainment or digital marketing or cloud payments to payroll & petty cash to employee benefits like meal vouchers to gift cards for partners. EnKash is leading innovations by enabling simple and technologically advanced solutions. EnKash is based out of India, with its offices present across Mumbai, Delhi-NCR, Pune, and Bengaluru.

Source: https://www.businesswire.com/news/home/20220404005471/en/EnKash-a-Corporate-Spends-Management-and-Cards-Issuing-Startup-Raises-US-20-Million-in-an-Ascent-Capital-led-Round-Joined-by-Baring-India-and-White-Ventures