EMTECH raises $4M led by Matrix Partners India

Bengaluru, Friday, 4th August, 2023: EMTECH Solutions Inc, a first-of-its-kind modern central banking infrastructure provider, raised $4M led by Matrix Partners India, with participation from global investors like BTN, VestedWorld, Equity Alliance and Lofty Inc. The funds will be used to fuel the ongoing development of its infrastructure tools for central banks and fintech companies.

EMTECH, an award-winning technology company, helps to transform the regulatory review process of fintechs for several central banks with its API-led regulatory sandbox. With a focus on delivering modern, secure and scalable solutions, EMTECH equips them with the necessary tools to leverage the growing fintech landscape. With six central banks onboard, the company is quickly establishing itself as the market leader, connecting central banks and fintechs, while reducing friction and promoting a developer-friendly environment.

EMTECH has successfully developed Regtech and CBDC stack solutions by harnessing DLT and blockchain technology. Notably, these solutions have been deployed and utilized by the Central Banks of Ghana, Nigeria and the Bahamas, effectively advancing their Regtech and CBDC agendas. Additionally, the company also works with fintechs in those regions, offering valuable insights from both a regulatory and innovation standpoint.

Backed by Noemis Ventures, Octerra Capital and 500 Global amongst others, the four year old startup will utilize the funds to advance the development of EMTECH's Regtech and CBDC stack. Additionally, the company will prioritize the development of a broader range of innovative financial services products.

On the fundraise, Carmelle Cadet, Founder & CEO of EMTECH shared, “EMTECH’s adoption of blockchain technology enables the democratization of finance, bringing financial freedom and inclusivity to individuals and businesses of all sizes. With the support of our investors, we are well positioned to expedite our growth, diversify our product offerings and continue to drive transformative change across the financial services landscape.”

Aakash Kumar, Principal at Matrix Partners India, said, “Digital assets and programmable currency in the form of regulated CBDCs can turbocharge financial inclusion. Emtech’s vision of shaping blockchain powered fintech infra for CBDCs and solutions for fintech regulation is compelling and we are excited to partner with them on their journey.”

EMTECH will work with central banks across the world to deliver solutions that will fuel their regulatory and innovation agendas.

About EMTECH:
EMTECH is a dynamic fintech company at the forefront of revolutionizing the financial technology industry. With a mission to democratize finance, EMTECH combines advanced technologies with user-centric design to deliver innovative solutions for financial services operators and their regulators across the globe.

About Matrix Partners India:

‍Founded in 2006, Matrix Partners India invests in companies targeting the Indian consumer and enterprise market and has invested in several category-leading companies such as Razorpay (Payments), Five Star Business Finance (SME Lending), OneCard (Mobile-first credit card), Ola (Mobility), Ola Electric (Electric Vehicles), Dailyhunt (Local language platform), OfBusiness (B2B commerce, fintech), Oxyzo (Tech-enabled smart financing), Captain Fresh (B2B seafood marketplace), Country Delight (D2C dairy & fresh foods brand), GoKwik (E-commerce enablement platform), Jupiter (Neobank), MoEngage (Customer engagement platform), Mswipe (Mobile POS), Stanza Living (Tech-enabled student housing platform) and Zupee (Skill-based gaming) among others. Matrix Partners India has advisory offices in Bangalore, Delhi and Mumbai. Further information is available at www.matrixpartners.in. To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.

‍For more information, please contact:‍pr@matrixpartners.in

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