About Open
Open is a company based in Bengaluru (India) founded in 2017 by Deena Jacob, Ajeesh Achuthan, Anish Achuthan, and Mabel Chacko. It operates as a SaaS (Software-as-a-Service), Subscription Services, and FinTech. Open has raised $186.4 million across 8 funding rounds from investors including Google, India Infoline and Visa. The company has 373 employees as of January 13, 2025. Open has completed 2 acquisitions, including Finin and Optobizz. Open offers products and services including Connected Banking, Payment Automation, and GST Invoicing. Open operates in a competitive market with competitors including Tide, Chqbook, Vanghee, ZikZuk and Tijoree, among others.
- Headquarter Bengaluru, India
- Employees 373 as on 13 Jan, 2025
- Founders Deena Jacob, Ajeesh Achuthan, Anish Achuthan, Mabel Chacko
- Stage Minicorn
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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- Legal Name Open Financial Technologies Private Limited
- Jurisdiction Bengaluru, Karnataka, India
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Annual Revenue
$5.39 M (USD)-13.18as on Mar 31, 2024
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Net Profit
-$19.82 M (USD)29.94as on Mar 31, 2024
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EBITDA
-$16.74 M (USD)38.79as on Mar 31, 2024
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Total Equity Funding
$186.4 M (USD)
in 8 rounds
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Latest Funding Round
$50 M (USD), Series D
May 02, 2022
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Investors
Google
& 26 more
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Employee Count
373
as on Jan 13, 2025
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Investments & Acquisitions
Finin
& 1 more
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Products & Services of Open
Open offers a comprehensive portfolio of products and services, including Connected Banking, Payment Automation, and GST Invoicing.
Bank accounts are connected for seamless payment management.
Payments are automated for efficient accounts reconciliation processes.
GST-compliant invoices are created for business payment tracking.
People of Open
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Funding Insights of Open
Open has successfully raised a total of $186.4M across 8 strategic funding rounds. The most recent funding activity was a Series D round of $50 million completed in May 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Open
Open has secured backing from 27 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Google, India Infoline and Visa.
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Venture and private equity investments are managed with global diversification.
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An investment platform is provided for diverse sectors and geographies.
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Venture capital investments in technology sectors like SaaS and Fintech in India.
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Investor details for Open
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Investments & Acquisitions by Open
Open has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Finin and Optobizz.
Investment portfolio details for Open
Portfolio company identities, transaction dates, round details, and investment values require an active premium plan.
- Portfolio identities
- Transaction dates
- Round details
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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Digital bank for Individuals
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Limited information available
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Locked | Locked | 2017 | Locked |
Complete acquisition details for Open
Transaction dates, acquired stakes, disclosed values, domains, and locations require an active premium plan.
- Transaction dates
- Acquired stakes
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Financial Statements - Open
Detailed financials for Open
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Open Comparisons
Peer comparison for Open
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- Named peers
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Competitors of Open
Open operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Tide, Chqbook, Vanghee, ZikZuk and Tijoree, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Tide is recognized as a digital banking platform for businesses.
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Provider of banking, lending, insurance, and transaction management solutions for small businesses
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Digital bank for businesses
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Neobanking and business intelligence platforms are offered to SMEs.
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Digital banking services for businesses are provided online.
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Detailed competitors of Open
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Latest news on Open
Complete news archive for Open
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- Full article archive
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- Older coverage
- Brand-specific news history
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Frequently Asked Questions about Open
Open was founded in 2017.
Open is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Anish Achuthan is the current CEO of Open. They have also founded this company.
Open is a funded company, having raised a total of $186.4M across 8 funding rounds to date.
As of Jan 13, 2025, the latest employee count at Open is 373.
Annual revenue of Open is $5.39M as on Mar 31, 2024.
Business payments are managed and simplified by Open, a connected banking platform. Various bank accounts are integrated to facilitate seamless sending and receiving of payments. Reconciliation of transactions is automated with accounting software integration. Solutions are provided across industries like startups, retail, manufacturing, and enterprises. Additional tools for GST invoicing, payroll, and expense management are offered. Partnerships with major Indian banks such as ICICI, SBI, Axis, and Yes Bank are established for direct payment processing.
Open offers Connected Banking, Payment Automation, and GST Invoicing.
Open has 27 investors. Key investors include Google, India Infoline, Visa, Angel List, and IIFL Finance.
The valuation of Open is $371.11M as of May 2021.