Open is an SME digital banking service that offers a business platform that helps businesses automate and run their finances effectively.
Open is on a mission to deliver a truly seamless business banking experience and make managing finances a breeze.
Open was founded in 2017 by Anish Achuthan, Mabel Chacko, and Deena Jacob. The company is headquartered in Bangalore, Karnataka, India.
Open operates a neo-bank that offers small and medium-sized businesses as well as enterprises nearly all the features of the bank with additional tools to serve the needs of a business.
Open helps businesses send and receive payments, automate accounting and expenses, and uses application programming interface (API) tools to help integrate banking processes with SME workflows.
Open has partnerships with over a dozen top banks in India, with more than 2 million businesses are using its platform.
Open is backed by Temasek, Tiger Global Management, Google, 3one4 Capital, Japan’s SBI Investment, Tanglin Venture Partners Advisors, Speedinvest, and others. The company raised $100M in Series C round on Oct 12, 2021. This brings Open's total funding to $140.8M to date. The latest round valued the company at $500M post-money.