PaySprint has recently secured $3 million in its Series A funding round, marking a significant milestone in its journey to revolutionise business banking infrastructure in India.
The funding round is structured in two tranches, with the first $1.2 million already secured and the remaining Rs 15 crore expected soon.
Founded in December 2020 by S Anand, Deepankar Agarwal, and Satnam Kaur Sachdeva, PaySprint has evolved from a single-product focus to offering a comprehensive suite of open banking API solutions tailored for banking and payments. The company’s flagship product, SprintNXT, serves as a Business Banking Switch enabling connected banking, smart payouts, real-time collections, automated reconciliation, and actionable financial insights for enterprises.
Complementing this is SprintVerify, a robust verification engine that facilitates onboarding and identity checks across over 120 APIs, including PAN, Aadhaar, RC, and bank account verification.
The newly acquired capital will be utilised to deepen the adoption of SprintNXT and the company’s Escrow Infrastructure, expand AI-driven capabilities in onboarding and fraud detection, strengthen banking and enterprise partnerships, and scale its product and engineering teams.
PaySprint is also introducing SprintEXcrow, an Escrow-as-a-Service platform designed for digital platforms and lending ecosystems, and SprintEX-code, a physical and cloud-based software escrow platform ensuring source code protection and regulatory compliance.
As PaySprint embarks on this new phase of growth, it aims to lead the next wave of fintech innovation by simplifying and scaling India’s business banking infrastructure, addressing longstanding trust gaps in the digital economy, and offering scalable solutions to a diverse range of financial entities.
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