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Bengaluru’s credit-card-as-a-service platform Hyperface raises $9M in seed round

Bengaluru-based modern transaction credit platform Hyperface will use the funds to strengthen its credit-cards-as-a-service product and build a strong team.

Bengaluru’s credit-card-as-a-service platform Hyperface raises $9M in seed round

Wednesday July 13, 2022 , 3 min Read

Hyperface, a Bengaluru-based modern transaction credit platform, has announced that it has closed a $9 million seed funding round led by 3one4Capital with participation from existing investors, including Global Founders Capital, and Better Capital, and new investors Flipkart Ventures, Groww, and Rebalance Angel Community.

In an official release, Hyperface said it will use the funds to strengthen its credit-cards-as-a-service product and build a strong team. The startup has previously raised investments from prominent angels, including Kunal Shah, Amaara Capital, GFC, and Better Capital.

Founded in 2021 by Ramanathan RV (previously co-founder of Juspay) and Aishwarya Jaishankar, a veteran banker who spearheaded digital initiatives at multiple banks, Hyperface is designed to simplify the launch of credit cards and pay later issuance at scale. 

For businesses, the launch of a credit card programme today takes somewhere up to 12-18 months for a brand. Hyperface claims to take away all the technical gruntwork of backend API integrations and red tape to reduce time-to-launch 10X. With Hyperface, brands can custom-build their own credit programme in "a matter of weeks".

Hyperface CEO Ramanathan RV said, "Hyperface is deeply committed to the idea of embedded finance and to accelerate credit inclusion in India. We feel very fortunate to have partnered with 3one4 capital, Flipkart Ventures, Groww, and others in a journey towards the next big evolutionary change in the financial services landscape."

Speaking on the investment, Pranav Pai, Managing Partner, 3one4 Capital, the lead investor, said, “Credit card programme management is a uniquely valuable fintech vertical that brings together multiple stakeholders to support differentiated user experiences. The team at Hyperface has channelled their deep domain expertise to build the definitive platform in the space. We are excited to partner with Ram and Aishwarya on their journey to drive this evolution in digital financial services.” 

Hyperface recently launched AU LIT card, a customisable credit card in partnership with AU Bank. The LIT card has been powered by the Hyperface Smart benefits engine, a proprietary innovation that allows credit card issuers and cobrands to construct the right value proposition for their customers.


From instant cashbacks to accelerated reward points, from lounge access to milestone-based voucher rewards, the Hyperface smart engine allows clients to pick and curate the right credit card programme. This product claims to have seen a great response from the credit card industry.


Aishwarya Jaishankar, Co-founder, Hyperface, said, “With under 5 percent customers in India having credit cards and the growing trend of embedded finance, co-branded credit cards are here to stay and we aim to empower banks and brands with the right and compliant technology to launch and scale them.”

According to Ravi Iyer, Senior Vice President and Head, Corporate Development, Flipkart, Flipkart is committed to encouraging businesses that have the potential and support their growth to help expand the digital commerce industry in India. 

“Hyperface’s capabilities are extremely relevant in the Indian context as digital companies increasingly seek to enhance credit offerings for customers. Backed by an experienced team, Hyperface’s offerings seek to reduce the time taken for businesses to integrate fintech offerings in a seamless manner, and we are pleased to be able to support them as they grow,” Ravi said.


Edited by Teja Lele