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Indian Fintech Startup Raises $120M in Series C, Joins Unicorn Club
Summary
Mumbai-based fintech startup PayNex secured $120 million in its Series C funding round on February 13, 2026, pushing its valuation to $1.2 billion and officially becoming a unicorn
Mumbai-based fintech startup PayNex secured $120 million in its Series C funding round on February 13, 2026, pushing its valuation to $1.2 billion and officially becoming a unicorn, Bloomberg reported. The funding round was led by international investors including Sequoia Capital and SoftBank Vision Fund. PayNex plans to use the capital to expand its digital payment solutions and scale operations across Southeast Asia. Since its founding in 2021, the startup has grown its user base to over 15 million. The company’s innovative approach to credit scoring and seamless payments has attracted significant market attention, positioning it as a major player in India’s fintech ecosystem.
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