Indian Economy News

Fintech startup Backspace Tech raises US$ 450,000

  • IBEF
  • July 21, 2022

Backspace Tech, a fintech startup, has raised US$ 450,000 from strategic investors, including Mr. Mohan K & Mr. Jai Kumar (founders of Ippopay), Mr. Omar Bin Brek, UAE-based founder of Foloosi, along with M2P Fintech founders and other angel investors.

The funds would be used to strengthen the technology stack, team expansion and for go-to-market. Backspace Tech’s product can be subscribed on a yearly subscription with plans including volume-based pricing.

Backspace Tech is a fintech startup building SaaS applications for financial institutions to resolve disputes and chargebacks on UPI and card payments. By providing technology and automation through SaaS, the product assists in resolving the difficulties faced by both issuer banks and acquirer banks during the full dispute and chargeback process.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.