HiWi Receives Major Pre-seed Funding for Cross-border Payments

Published 6 months ago

Cross-border fintech platform HiWi has recently secured INR 7.25 Cr in a pre-seed funding round. The round was spearheaded by Unicorn India Ventures and the Unmaj Group Family Office.

HiWi: Simplifying International Payments

HiWi, a Mumbai-based startup, was established in 2022 by founders Dewang Neralla, Geeta Chauhan, and Ujwal Tamminedi. The platform helps manage cross-border payments and financial transactions, making it a go-to solution for individuals and businesses alike.

The fintech platform aims to uncomplicate the process of international payments. It addresses issues often associated with cross-border remittances, such as perplexing exchange rates, high forex margins, and demanding documentation requirements.

HiWi’s Initial Focus: Students Abroad

HiWi’s initial product targets students studying abroad by serving as a comprehensive hub for all their financial needs. The startup’s mobile app provides an array of services, including fund transfers, opening foreign bank accounts, exploring financing options, managing card spending, and even earning loyalty points.

Future Growth Plans for HiWi

The freshly secured capital will be channeled towards advancing product development and executing a strategic go-to-market rollout. Anil Joshi, managing partner of Unicorn India Ventures, praised HiWi for leveraging technology to fill a crucial gap in facilitating easier and more convenient cross-border payments. He emphasized that while the company is starting with foreign admission, the product stack will be expanded for other use cases post foreign admission, providing HiWi with ample growth opportunities in the future.

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