Investors woo Digio as regtechs show strong growth amid pandemic

Investors woo Digio as regtechs show strong growth amid pandemic

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Pratik Bhakta

122 reads
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Pratik Bhakta

122 reads

Rainmatter-backed DigiO has held talks for its first major institutional round of funding after six years of running on seed money. Why? Because for its next phase of growth, external capital will help it scale up rapidly, stave off competition and enter related segments

May 04, 2022

13 Min Read

If you were to search for news on e-verification startup Digio, you’d be hard put to find much that is recent. Indeed, you will probably run into some irrelevant results that are in Portuguese, about a Brazilian digital bank with the same name, as the search engine crawls the worldwide web trying to scrape up whatever it can on the company. 

Perhaps this is not surprising given its tutelage. Unlike some of its hyper-funded B2C counterparts, which are always in the headlines for reasons good and bad, Digio, a B2B startup that helps digitise customer onboarding, has kept its head down and focused on building its business. That’s pretty much how its mentor, Nitin Kamath, built online brokerage Zerodha with his brother, Nikhil.

But now, Digio is looking to make a headline or two. After getting by for six years on a diet that consisted strictly of angel funding, and soul food by way of mentorship from Kamath, the digital verification startup has started attracting the interest of investors. While its core business has been profitable for five years now, a new funding round — if and when it happens — will help Digio scale up rapidly in a highly competitive environment.

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