Indian Beehive

Cross-border platform for financial transactions LeRemitt raised $1.25 M Seed funding from Axilor Ventures

Axilor Ventures led a $1.25 million seed round to fund LeRemitt, a cross-border platform that streamlines financial transactions. In this round, which also included participation from angel investors like Ram Govindarajan (Founder of Wizfreight) and Sumit Agarwal (Founder of Vyapar), Capital A has co-invested.

LeRemitt claims that the money will go toward hiring staff, expanding internationally, improving the capabilities of the company’s products, and creating strategic alliances.

LeRemitt, a company founded by Mahesh Barate and Sheetal Jain, gives businesses, especially MSMEs, the power to succeed by facilitating international financial transactions, extending their global reach, and navigating the challenges of global trade.

Fast money transfers are made possible by the startup using its technology, giving recipients immediate access to their money. Its platform makes it a highly cost-effective choice for all cross-border remittance needs due to its competitive rates and low transaction fees.

Axilor Ventures, founded in 2014, invests in early-stage startups across industries, including supply chain/B2B commerce, enterprise SaaS, healthtech, agritech, fintech, and consumer internet. Among others, the fund has made investments in Wiz Freight, Vyapar, Detect, Capgrid, Metalbook, Medfin, and Enkash.

 

 

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