TLDR:
- Gravity, a B2B banking tech startup, secured $1 million in funding from Kettleborough VC.
- The funds will be used to enhance product engineering efforts for version 2.0 and onboard 4-5 Indian banks onto the platform.
Article Summary:
Banking tech startup Gravity, founded in March 2024 by Satish Krishnaswamy and Rohit Maroo, raised $1 million in funding from Kettleborough VC. The company plans to strengthen its engineering capabilities to develop version 2.0 of the platform. Gravity aims to achieve an annual recurring revenue of $2 million by the end of the year.
The platform enables interoperability among various banking software systems, facilitating the development of customised products for customer needs. The startup has engaged with 18 commercial banks in India, completed proof of concept with five, and closed an order with one bank. Gravity’s immediate focus is onboarding 4-5 Indian banks before considering international expansion.
In the coming year, Gravity plans to sign partnerships with banks in the UAE, Vietnam, Indonesia, Philippines, and the UK. Nisarg Shah, founder of Kettleborough VC, expressed confidence in Gravity’s potential to revolutionize the banking industry by addressing the challenge of siloed banking systems.
