HiWi, a global cross-border remittance fintech, has secured Rs 7.25 crore in a pre-seed funding round, with Unicorn India Ventures and the Unmaj Group Family Office leading the investment. According to the company, the fresh capital injection will help it in advancing product development and executing a strategic go-to-market rollout.
Headquartered in Mumbai, HiWi was co-founded by Dewang Neralla, Geeta Chauhan and Ujwal Tamminedi.
Dewang Neralla, Founder of HiWi said, “I would like to thank Unicorn India Ventures and Unmaj Group for having confidence in HiWi’s vision to make cross-border remittances accessible and convenient for all stakeholders. Although our initial focus is on education, we plan to expand our services to cater to SMEs, further streamlining and enhancing the remittance process.”
Commenting on the fundraise, Anil Joshi, Managing Partner, Unicorn India Ventures said, “Foreign education is an ever-growing market. At Unicorn, we have studied this segment and made investments both in study abroad and fintech companies. HiWi is combining the power of tech and addressing a much-needed gap of facilitating cross border payments that are easier and convenient for both the parents and students. The company is starting with foreign admission, but the product stack will be leveraged for other use cases post foreign admission, The future offerings canvas in this segment will give immense growth opportunities to HiWi.”
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