SALT, a cross-border transaction platform for businesses, today announced that it has raised $500,000 in a pre-seed round from various angel investors as well as founders of Indian startups. According to a web portal report, the financing round involved founders of various startups including Prashant Pansare (founder of Backer Capital), Backer Capital, Amit Goyal, Vishrut Bubna, Supermorpheus and Orange Health.
SALT will utilize the new investment to help build the engineering team, product development as well as the creation of new facilities as per the product roadmap. Prashant Pansare, Founder, Backer Capital, said that Ankit and Udita (founders of SALT) are building SALT to reduce complexities in cross-border transactions in the country.
Ankit Parashar, Co-Founder, SALT said, “We are at the pinnacle of growth in the Indian Impex industry, with the government pushing for a higher share in world trade to become an export hub. We need robust banking and compliance products for this industry to support the scale of transactions in a rapidly changing regulatory environment with high customer expectations.
SALT is a one-stop-only digital experience for SMEs for cross-border payments that helps provide banking, documentation management and workflow automation solutions to small-sized exporters and importers actively dealing with international transactions.