Fintech startup AuthPay raises $450,000 led by SCOPE VC

Fintech startup AuthPay, established in July 2020, has raised $450,000 in a pre-seed funding round led by SCOPE VC. AuthPay is renowned for its secure payment solutions that cater to businesses globally.

The startup leverages advanced technology and a customer-centric approach to streamline transaction processing, enhance security, and provide seamless payment experiences.

The Role of SCOPE VC

SCOPE VC, the investment banking arm of the exclusive networking platform SCOPE, has taken a pivotal role in this funding round. The investment comes after the recent launch of a $45 million venture capital fund dedicated to fostering innovation in the fintech and gaming sectors.

"Our investment is not just about capital; it's about fostering an ecosystem where startups like AuthPay can thrive, redefine industry norms, and contribute significantly to the evolution of fintech," Appalla Saikiran, Founder and CEO of SCOPE, said in a statement.

Providing mentorship

The collaboration between AuthPay and SCOPE VC extends beyond mere financial backing. AuthPay is set to benefit from mentorship, industry insights, and operational support from seasoned professionals within the SCOPE ecosystem. This partnership is designed to propel AuthPay's growth by enabling the startup to leverage cutting-edge technologies and transformative business models within the fintech sector.

A smart wallet maximizing rewards

AuthPay distinguishes itself as a smart wallet that maximizes rewards for every purchase. Its patent-pending AI technology recommends the most suitable card based on the merchant type, location, and loyalty programs, ensuring customers get the best possible rewards for their transactions.

"Collaborating with Saikiran and SCOPE has been an enriching experience, and we anticipate this partnership to continue strengthening as we progress further," said Mike Yoo, Co-founder of AuthPay.