Open raises $100 million from Temasek, Google

Open, an Sme-focused neo-banking platform, has raised ~735 crore ($100 million) in a Series C round. The funding was led by Temasek and saw participation from Google and SBI Investment, one of Japan’s leading venture capital firms. Existing investors Tiger Global and 3one4 Capital also participated in the round. According to the sources, the funding takes the valuation of Open to about $500 million. Open plans to use this to further strengthen and accelerate its new product lines and hire over 800 people.