CheqUPI raises $500K in pre-seed round, secures spot for Summer 2023 round

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CheqUPI raises $500K in pre-seed round, secures spot for Summer 2023 round
CheqUPI raises $500K in pre-seed round, secures spot for Summer 2023 round

CheqUPI is on a mission to serve this underserved audience and simplify digital payments for those visiting India

CheqUPI has raised $500,000 from Y Combinator Accelerator and secured a spot in its program for the Summer 2023 round, it said.

CheqUPI, a UPI wallet for foreign nationals and travellers, was founded in 2021 by Sudhanshu Shekhar and Manish Shukla. It costs $10 to join and set up and has been used by “hundreds of foreign nationals and NRIs” so far.

“With approximately 55 million merchants accepting UPI and nearly a billion transactions per month, UPI has transformed the payment landscape in India. However, foreign nationals and NRIs have been excluded from this ecosystem due to various constraints,” said Shukla in a press statement.

“CheqUPI is on a mission to serve this underserved audience and simplify digital payments for those visiting India,” he added.

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