$3Bn+ PORTFOLIO VALUE CREATED.
SEED TO SERIES A . DEEP TECH FOCUS.
EVERY PITCH GETS A RESPONSE WITHIN 10 DAYS.
SEED TO SERIES A . DEEP TECH FOCUS.
$3Bn+ PORTFOLIO VALUE CREATED.
EVERY PITCH GETS A RESPONSE WITHIN 10 DAYS.
SEED TO SERIES A . DEEP TECH FOCUS.
$3Bn+ PORTFOLIO VALUE CREATED.
SEED TO SERIES A . DEEP TECH FOCUS.
EVERY PITCH GETS A RESPONSE WITHIN 10 DAYS.
SEED TO SERIES A . DEEP TECH FOCUS.
$3Bn+ PORTFOLIO VALUE CREATED.
EVERY PITCH GETS A RESPONSE WITHIN 10 DAYS.
SEED TO SERIES A . DEEP TECH FOCUS.
Home /Case Studies /
Open Financial Technologies
FINTECH | NEO-BANKING | B2B BANKING INFRASTRUCTURE

Open Financial Technologies

Founded
2017 - Bengaluru
Stage
Growth
fund
UIV Fund I
invested
2017
4M+
Businesses Powered
$40B+
B2B payments processed
$300B+
Online payments processed
The problem

Fragmented Financial Infrastructure for Businesses

India’s businesses have historically had to stitch together banking, payments, cards, expense management, and accounting across disconnected providers. For startups and SMEs, this creates slow onboarding, fragmented cash visibility, and limited access to programmable financial products.

THE COMPANY

From Digital Banking to Embedded Finance Infrastructure

Open began as a digital bank for startups and enterprises and has evolved into a banking-services and embedded-finance platform. Its product suite spans deposit accounts, money transfers, debit and business cards, expense management, accounting workflows, lending, and APIs that allow banks and enterprises to embed financial products into their own journeys. The company's Zwitch platform extends that infrastructure to enterprise clients, while its Banking Connect partnership with NPCI Bharat BillPay positions Open inside India's interoperable banking rails.

THE THESIS

Why UIV backed Open

01
Category creation Open built infrastructure rather than a single financial product, giving it multiple monetisation paths across banking, cards, lending, and embedded finance.
02
Distribution through regulated partners The model compounds through bank, payment, and enterprise partnerships instead of relying only on direct consumer acquisition.
03
Demonstrated value creation Open reached unicorn status in 2022 and generated one of UIV Fund I's clearest realized and marked value-creation outcomes.
FOUNDERS
Ajeesh Achuthan
Co-Founder and Chief Executive Officer
Mabel Chacko
Co-Founder and Chief Operating Officer
Deena Jacob
Co-Founder and Chief Financial Officer
FINTECH | NEO-BANKING | B2B BANKING INFRASTRUCTURE

Building India’s Next Banking Layer

From a startup banking product to a programmable financial infrastructure company — Open helped prove that India's next banking layer could be built by a technology-first team.

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