Spense, one of the leading Bengaluru fintech startups specializing in programmable banking and credit card infrastructure, has raised $1.85 million in its pre-seed funding led by GrowthCap Ventures.

➤ Bengaluru-based fintech Spense raises $1.85M to scale programmable banking infrastructure.

➤ Spense to expand secured credit card, fintech platforms, and fintech API stack after the pre-seed round led by GrowthCap Ventures.

➤ Founded by ex-Uber India and BNP Paribas Heads, Spense is powering next-gen credit infrastructure for regulated entities.

Investments came from Kunal Shah (founder, CRED), Sayandeb Banerjee (co-founder, The Math Company), Suresh Rayasam (Head of Applied AI for GTM), and Ravi Sudhakar (Director, AI Global Business Strategy, Microsoft), and others.

According to Spense, the funding, one of the early-stage startup investments, will be used to onboard more banks, grow fintech partnerships, and expand their product stack, technology stack, and use cases beyond just credit cards.

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Spense was founded by Pawan Kumar (former head of Applied Science at Uber India) and Srinivas Krishnamurthy (former technical lead at BNP Paribas). Spense provides infrastructure for secured credit cards, prepaid cards, and forex programs. Their platform is intended to support financial institutions subject to regulatory oversight to launch and integrate new credit products.

Currently, Spense is used by regulated entities to launch and operate secured credit programs, while the company’s infrastructure enables fast go-to-market timelines, and auditability while integrating with legacy systems.