Open has raised $50 million in its Series D round from IIFL, along with existing investors Temasek Holdings, Tiger Global Management, and 3one4 Capital.
The startup has raised over $140 million in funding, backed by global investors — including Temasek, Google, Visa, Tiger Global, Beenext, Recruit Strategic Partners, 3one4 Capital, Speedinvest, Tanglin Venture Partner Advisors, Angellist, and Unicorn India Ventures, to name a few.
Within six months from raising its Series C round of Rs 735 crore ($100 million) led by Temasek, the startup bagged its Series D round — at a valuation of $1 billion — making it India's 100th unicorn.
The company will use the fund to accelerate its existing product lines — Zwitch and BankingStack to drive global expansion and reach over five million customers within the next year.