Banking infrastructure provider Emtech raises $4 million in round led by Matrix Partners India
Emtech Solutions has raised $4 million as a part of a fresh funding round led by Matrix Partners India. The round also saw participation by global investors, including BTN, VestedWorld, Equity Alliance and Lofty Inc. The US-based company said it would use the fresh funds to continue developing its products and infrastructure stack.
Emtech helps in the regulatory review process of fintechs. It acts as a central application programming interface (API)-based layer between central banks, fintechs and banks. Through its platform, the startup helps central banks digitise their regulatory framework, digitises application processes for newer regulatory changes, and allows for a multi-department review of these applications.Fintech support Emtech helps fintechs review regulatory environments for institutions globally, test their products in a controlled environment, and also helps them with compliance.
“Emtech’s adoption of blockchain technology enables the democratisation of finance, bringing financial freedom and inclusivity to individuals and businesses of all sizes. With the support of our investors, we are well positioned to expedite our growth, diversify our product offerings,” said Carmelle Cadet, founder and chief executive officer (CEO) of Emtech. The four-year-old startup has seen its products adopted by the central banks of Ghana, Nigeria and the Bahamas to drive their regtech and central bank digital currency (CBDC) agendas.
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