MetaMap, a fintech firm, has raised 530 crore to expand globally

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MetaMap (previously Mati), a US-based fintech firm, revealed on Tuesday that it has raised Rs 530 crore in Series B funding headed by Tribe Capital and including Craft Ventures, Alameda Research (FTX), Titan Capital, and famous angel investors.

 

The latest funding increases the company's total funding to Rs 630 crore, and it will be used to engage in product development and worldwide expansion as it pursues its aim of enabling billions of people to get access to internet services and experienced upward mobility.

 

"The world continues to move toward a more fluid, borderless economy that encourages individuals who have hitherto been excluded from global business to participate more fully. The tools required to make this vision a reality, however, are still lacking "In a statement, Filip Victor, the founder and CEO of MetaMap, remarked.

 

MetaMap is establishing a major tech cluster in India, with over 30 people now spread across locations in Bangalore and Gurugram, and plans to more than double headcount in the country this year. In 2022, it also announced a series of collaborations with top Indian fintech, markets, and cryptocurrency exchanges.

 

Entrepreneurs may use MetaMap to screen people and analyze their risk profile based on several personal characteristics that are supported by hundreds of data points.

 

Entrepreneurs can recognise the entire spectrum of an individual's profile, from basic qualifications like legal identity to more sophisticated qualifications like biometrics and psychometrics, using these qualities.

 

As a result, individuals can access digital services for the first time, which is often the case. MetaMap allows developers to create bespoke automated workflows that qualify consumers based on a variety of criteria at every point in their customer journey.