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Setu, operated by BrokenTusk Technologies Pvt. Ltd. in Bangalore, provides KYC, eSign, account aggregation and UPI payment services for financial firms.
BrokenTusk Technologies Pvt. Ltd., which operates as Setu, was founded in 2018 in Bangalore, India. The platform offers KYC verification, eSign gateways, account aggregation, and UPI and BBPS payment services for lenders, wealth managers, insurers and banks. Revenue comes mainly from B2B fees for verification and transactions. The company raised USD 1,092.12 mn in total, and Pine Labs Private Limited acquired it in an add-on trade sale in June 2022 for USD 70 mn. Reported 2023 revenue was USD 1,774,611.20 and EBITDA was USD -8,017,361.
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