Google and Temasek back Indian neobank Open in $100 million funding

Open said on Tuesday it has raised $100 million in a Series C financing round.

TechCrunch reported in June that Open was in talks with Temasek and Google among others to raise $100 million.

“Neobanks are gaining prominence as platforms to digitise banking or bank-like services for millennials and SMEs. Top-4 global neobanks are worth $100 billion and Indian fintechs have made a start through likes of Open, RazorpayX, Fi, and Jupiter,” wrote analysts at Jefferies in a report last month.

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