Hyderabad-based fintech startup raises seed funding 

Hyderabad-based fintech startup Payinstacard has raised an undisclosed seed funding from angel investors utilising which it intends to grow the customer base.

Describing it as a major investment, the startup said Brandix India partner PC Doraswamy and former banker turned industrialist Sandhya Rani Maddipati participated in the funding round.

In a release, founders Sai Krishna Musunuru and Sri Nagesh Kotipalli highlighted the vast potential in the Indian market with the number of active payment users expected to double to 700 million by 2030. Payinstacard app aims to capitalise on this expansion by introducing more user-friendly and innovative payment solutions, they said.