Fintech startup Vegapay and gaming firm Snax Games have secured early-stage funding, the companies said on Wednesday.
Vegapay has raised $1.1 million (around Rs 9.15 crore) in a pre-seed funding round led by Eximius Ventures.
The round also saw participation from DSP HMK, Capri Global, Upsparks Capital, MGA Ventures, Climber Capital, Arun Venkatachalam (Murugappa Group) and Pratekk Agarwaal (GrowthCap Ventures) among others.
The startup will use the fresh capital to develop its technology stack further and to create an omnichannel lending solution.
Founded in 2022 by Gaurav Mittal, Himanshu Agrawal, Puneet Sharma and Abhinav Garg, Vegapay is building a lending tech stack and card management system that enables regulated entities as well as fintechs to issue and further increase card as well as lending penetration in India.
“We aim to assist our partners in achieving the $1.5 trillion assets under management by providing digital lending solutions swiftly,” said Mittal, co-founder and chief executive officer, Vegapay.
Israel-based Snax Games has secured $500,000 (Rs 4.15 crore) in a funding round from gaming and sports media platform Nazara Technologies Pvt. Ltd via its wholly owned Singapore subsidiary Nazara PTE Ltd.
Founded in 2020, Snax Games claims to be currently developing a new genre called casual multi-game of which its first game is titled “parties & puzzles”.
Additionally, Nazara has also entered into a publishing agreement with Snax Games through which it has acquired the exclusive rights to publish the games in the Indian subcontinent and the Middle East region on a revenue-sharing basis for five years.
“Our first game ‘Parties & Puzzle’ will be made available soon through Nazara’s publishing platform,” said Adam Gal-Ed, chief executive officer, Snax Games Ltd.
