Stripe looks to strike first investment in India

Pratik Bhakta

192 reads

Pratik Bhakta

192 reads

The US’ most-valuable startup, which has been struggling to grow its payments business in India, is evaluating a little-known domestic fintech startup called Recko for an equity investment

July 01, 2021

4 MINS READ

Global digital payments major Stripe is in talks to lead a $15 million Series B investment in Bengaluru-based early-stage startup Recko, according to two sources familiar with the development. If the deal goes through, it will be Stripe’s first venture investment in India.

The US startup is one of the world’s most-valued VC-backed companies at an estimated worth of $95 billion, but has struggled to grow in India after starting operations in the country in 2017.

Working closely with Recko will give Stripe visibility into how Indian ecommerce startups process their transactions so it can accordingly offer its complete gamut of services from payments to reconciliation.

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