Bengaluru-based fintech startup Spense has raised $1.85 million in a pre-seed funding round led by GrowthCap Ventures.
The round also saw participation from Kunal Shah (founder, CRED), Sayandeb Banerjee (co-founder, The Math Company), Suresh Rayasam (Head of Applied AI for GTM), Ravi Sudhakar (Director, AI Global Business Strategy, Microsoft), among others.
The capital will be used to onboard more banks, grow fintech partnerships, and expand Spense’s product and tech stack to support use cases beyond credit cards. The company is focused on enhancing its programmable banking infrastructure for broader financial services.
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Founded by Pawan Kumar (former Head of Applied Science at Uber India) and Srinivas Krishnamurthy (former Technical Lead at BNP Paribas), Spense offers infrastructure for secured credit cards, prepaid cards, and forex programs. It supports regulatory oversight and legacy system integration for financial institutions launching new credit products.
Spense is already being used by regulated entities to manage secured credit programs, enabling faster go-to-market timelines, auditability, and seamless backend integration.
