UK-based angel investors and top individuals from the investment banking sector spearheaded the first fundraising round for the neobank platform.
moneyHop, a UK-based firm with an Indian affiliate, has received $1.25 million in a seed round to deliver smooth and cost-effective payments and remittance solutions.
The funding was spearheaded by UK-based financiers and managing directors with experience in the financial services industry from several international investment banks.
MoneyHOP will use the funds to improve its staff at all levels, pursue ambitious growth goals, extend its worldwide footprint, and enter the cross-border MSME payment market. The round included some of the investors from the prior round, which took place in 2020.
moneyHOP is on a mission to give people and companies in India smooth and cost-effective cross-border payments and remittance solutions. It will soon expand to other parts of the world.
HOP Remit, HOP App + Card, and HOPPay solutions cater to the startup’s three main areas of focus: Send, Spend, and Collect.
“We are thrilled to have foreign investors and notable angels in the industry backing our vision,” stated Mayank Goyal, CEO and Founder of moneyHOP. This investment will help us achieve our goal of providing companies and consumers with a single platform that enables international payments and remittances paperless, cashless, and cost-effective. We are ecstatic to continue working tirelessly to transform cross-border banking for millennials and companies in India and throughout the world.”