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JMP, Rajaram ink $24m pre-launch Series A for Citrus Pay founder’s new venture Digifin

Amica Financial Technologies, started by Jitendra Gupta, former founder of payments firm Citrus Pay, which was acquired by PayU, has raised a seed funding round of $24 million, valuing it at $70 million even before it has launched its product, said two people aware of the matter, requesting anonymity.
Mint

Investors included Matrix Partners, Sequoia Capital, Greyhound Capital Europe LLP, 3One4 Capital, Rocket Internet Capital Partners, BEENEXT Emerging Asia Pte Ltd., Tanglin Venture Fund I, LLC, Amrish Rau and other angel investors.

Jerome Merchant & Partners advised Jitendra Gupta-led Digifin, operating under holding entity, Amica Financial Technologies Private Limited, led by partners Vishnu Jerome and Sameer Sibal along with associate Komal Parakh.

Rajaram Legal Mumbai advised the lead investors Matrix Partners India Investments III, LLC, Matrix partners India III AIF Trust, SCI Investments VI and Redwood Trust.

Deal value: INR 165 crores

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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