Tiger World is in superior phases of talks to again Indian embedded finance startup Yap, in keeping with greater than half a dozen individuals aware of the matter.
The New York-headquartered agency is in talks to guide a $35 million financing spherical in Yap — also called YapPay and M2P — that values the Bangalore-headquartered startup at about $350 million, up from about $67 million in March this yr (per information perception platform Tracxn), the individuals stated.
On the present phases of negotiation, Tiger World plans to take a position between $25 million to $30 million within the new spherical (a Sequence C), among the individuals stated. The spherical hasn’t closed, so the deal measurement might grow to be bigger and different phrases too might change, individuals stated.
Yap operates an API infrastructure platform that permits different startups to assist and construct funds providers. Yap, which has raised about $15.9 million so far, counts Higher Capital, BeeNext, AngelList, Omidyar Community, 8i amongst its present buyers.
If the deal materializes, it will likely be the most recent funding from Tiger World in India, the place it has already backed over a dozen startups this yr.
Everybody declined to remark.