Fintech Innovator VegaPay Secures $5.5 Million in Funding Round Led by Elevation Capital

Vegapay, a burgeoning B2B fintech startup, has raised $5.5 million in equity funding led by Elevation Capital and supported by Eximius Ventures. This round will fund product enhancements, regulatory compliance, and team expansion, including software developers and engineers. The company, which streamlines financial processes for institutions, plans to introduce a new credit card and a UPI credit line solution in collaboration with major banks. With ambitions to expand globally and a target to achieve significant revenue and card issuance milestones by next year, Vegapay is positioned to innovate the credit systems of financial institutions.