Former Citibank Executive Sajeev Vishwanathan and Mohit Davar, Chairman of IAMTN founded Blockchain startup New Street Technologies has raised USD$2 Million in funding from Unitus Ventures and a group of angel investors, in a series A round.
Started in 2017, New Street Technologies is headquartered in Bangalore and deals with connecting stakeholders in the financial services industry through various products and services built on the Blockchain technology.
Vishwanathan was quoted saying, “We have already disbursed loans of around Rs 30 crore for one of our bank partners in collaboration with business correspondents and have the mandate to do around Rs 1,000 crore for them through a three-year contract,”.
Currently operating within Karnataka they hope to expand their services to other regions as well. The round of funding would fuel their growth in terms of building more services on the blockchain and their expansion plans.