Fintech software services startup Signzy has raised $26 million [Rs 210 crore]  from Gaja Capital and its existing backers: Vertex Ventures and Arkam Ventures. The new round has come for the Bengaluru-based company after a gap of two years.

The company will use the cash injection to develop the ‘no-code workflow digitalisation’ platform and hire new talent to onboard global banking and financial services as clients, it said in a press statement.

With the latest round, the company has now raised $35 million capital. It includies a recent $5.4 million round led by Arkam Ventures (formerly Unitary Fund) and Master Card along with the participation of existing backers: Vertex, Kalaari and Stellaris.

Ankit Ratan, Ankur Pandey and Arpit Ratan founded the startup in 2015. Signzy's aim is to offer API solutions to banks and financial institutions for digital onboarding of customers in real-time. 

While Signzy is yet to file its financial statement for FY22, the company’s operating revenue grew 68% to Rs 18.47 crore in FY21. It posted a loss of Rs 1.43 crore during the fiscal year ended March FY21, as per its annual statement with the Registrar of Companies (RoC).

Ankit Ratan, CEO of Signzy said, “The financial services industry is undergoing a massive and multi-year digital transformation and we have only seen the tip of the iceberg so far. Signzy has seen strong adoption of its No-code product by financial services companies as they start on their once-in-a-lifetime digital transformation journey."