BASIX Sub-K raises ₹75 crore from Maj Invest

Fintech player BASIX Sub-K iTransactions Limited has raised Series C round of ₹75 crore (₹750 million) from Denmark-based Asset Management Company, Maj Invest.

Hyderabad-based Sub-K plans to utilise the funds for product innovation and strengthening the IT platform to make the company a preferred fintech as well as a distribution partner for banks and financial institutions.

“We will be able to continue to invest in innovations and increase our reach multi-fold, thanks to MajInvest who shares our vision of creating a world-class vehicle for catalysing inclusive growth, along with our existing investors, Michael & Susan Dell Foundation, Accion and Nordic Microfinance Initiative (NMI),” Sasidhar Thumuluri, Managing Director & CEO, BASIX Sub-K, said in a release.