Neobanking

Neo-banking platform Open said on Thursday that it cut 47 jobs in a bid to optimise its operations, in the latest of layoffs in the Indian startups sector.Also, founders of the fintech platform have taken a 50% pay cut, as the company aligns itself to profitability goals, a statement from Open said."Our recent staffing changes were driven solely by performance evaluations. We also ensured deserving high performers get 20-30% average hikes and Esops (employee stock options). We are actively hiring across critical functions…

Singapore-based neobanking platform Stashfin, which only serves the India market, on Tuesday raised $270 million in its Series C equity and debt led by global investors including Uncorrelated Ventures, Fasanara Capital and Abstract Ventures.The new round values Stashfin between $700-$800 million. The platform said it will use the funds to expand its footprint in Southeast and South Asia and upgrade its technology for new products."The fundraise is a key milestone in this challenging macro environment. We are now at the…