Indian Digital Payments API Provider Cashfree Raises $35M from Apis Growth Fund

On November 24, 2020, Cashfree announced a US$35 million investment from Apis Growth Fund II, a global financial services investor. Cashfree operates as an API-first digital payments platform in India, enabling businesses to embed payment acceptance and payout capabilities. The platform supports over 100 payment channels, including cards, UPI, net banking, and wallets, and facilitates payouts directly to banks and cards.

This positions Cashfree as key embedded finance infrastructure for Indian businesses seeking to integrate payments without building direct banking relationships. The funding will help Cashfree scale its operations and product suite to serve the rapidly growing Indian digital payments market. The deal highlights continued global investor interest in payments-as-a-service infrastructure, particularly in high-growth emerging markets.