Banking infra startup Spense secures $2.8 M Seed funding from Arkam Ventures, others
In a seed fundraising round headed by Arkam Ventures and including participation from Razorpay Ventures, GrowthCap Ventures, and Atrium Ventures, banking infrastructure startup Spense has raised $2.8 million. Angel investors Kunal Shah, Madhusudhan E, Ravishankar, Suresh Rayasam Venkatasubbaih, and Sayandeb Banerjee also participated in the round.
According to a press statement from Spense, the additional funds will be utilized to launch Credit Line on UPI (CLOU), increase its engineering and go-to market teams, speed up product development, and strengthen banking alliances.
Spense, which Pawan Kumar and Srinivas Krishnamurthy co-founded in 2022, allows banks to introduce credit cards and credit lines backed by client assets without having to replace their current IT infrastructure.
Financial institutions can introduce contemporary credit products much more quickly than with conventional methods thanks to the startup’s bank native platform, which combines core banking systems, deposit systems, and card management systems in real time.
AI powers the platform. Spense uses agentic AI to automate processes like customer assistance, onboarding, servicing, and collections that have traditionally needed sizable operations teams. Scaling secured credit products has historically been costly and difficult due to operational complexity, which these autonomous agents manage continuously.
