Teen-focused fintech startup FamPay has raised $38 million in a Series A funding round, led by Elevation Capital and existing investor Sequoia Capital India.
Other investors such as Y Combinator, Venture Highway, Global Founders Capital, as well as new investors including General Catalyst, Rocketship VC, and Greenoaks Capital also participated in the round, the startup said in a press release.
The Bengaluru-headquartered startup helps teens make and track online payments through the FamPay app, and the FamCard, without setting up a bank account.
