Sequoia India and Southeast Asia led a $21.7M seed funding round into fintech startup Zamp Finance, founded by the former leader of Uber's Asia Pacific division Amit Jain.

 

Sequoia India and Southeast Asia led a $21.7M seed funding round into fintech startup Zamp Finance, founded by the former leader of Uber's Asia Pacific division Amit Jain. Zamp offers businesses a platform to invest in U.S. Treasury bills. Jain said, "Our customers, and a lot of them are startups, are not looking for a particular yield or want to speculate with the cash they have. They are looking for ways to keep their cash safe in a way that protects them from risks related to currency or institution." The platform saw over 100 new signups within two weeks following the collapse of Silicon Valley Bank.  The Zamp platform acts as both a corporate treasurer and a gateway to financial instruments. The seed funding round received funding from Uber CEO Dara Khosrowshahi, former SoftBank COO Marcelo Claure, and Doordash CEO Tony Xu.  Jain was formerly a partner at Sequoia India and Southeast Asia.