SaaS startup RootFi received $1.5 M Seed funding from Y Combinator, others
Y Combinator, Pioneer Fund, Soma Capital, and other investors joined forces to lead a seed funding round for the business-to-business SaaS startup RootFi, which raised over $1.5 million.
According to a press release from RootFi, the company plans to use the raised funds to scale its team and broaden its coverage across various geographies and industries, including e-commerce, CRM, and payments.
RootFi, a company jointly founded in 2022 by Ishwar Gogineni, Sidharth Rao, and Parth Shah, aims to power new innovations for companies in India, Asia, the Middle East, and Africa by offering a unified API for accessing consented business data from different financial platforms, such as accounting, payments, and e-commerce platforms.
Through its unified API, RootFi aims to be the most convenient way for B2B companies to interact with their customers’ business financial data.
The startup with headquarters in Bengaluru says it powers credit, underwriting, accounting automation, and business financial management technology for more than 25 fintech, SaaS, and financial institutions.
In addition to startups like Landeed, Shelf, Cone, AlgoTest, and HireSure.ai, the Summer 2022 batch of Y Combinator also included RootFi. HireSure.ai, a platform for HR technology, received $2.5 million in seed funding in February from YCombinator and Three State Capital.
