# New Street Technologies Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/new-street-technologies-private

- Industry: Financial Services
- Headquarters: Bangalore, India
- Website: www.newstreettech.com
- Total disclosed funding: $6.2M
- Latest round: Series B (Sep 22, 2021)
- Investors on record: 3

## About

New Street Technologies Private Ltd is a financial technology company that focuses on delivering innovative banking, microfinance, and payment solutions tailored for modern financial needs.Founded by Mohit Davar and Sajeev Viswanathan, New Street Technologies Private Ltd operates out of Bangalore, India. The company has maintained a consistent focus on enhancing financial services and raised USD 4.00 mn in Series B funding in September 2021 from Capria Ventures, targeting the expansion of its operations. The CEO of the company is Sajeev Viswanathan.New Street Tech specializes in innovative financial solutions primarily centered around banking, microfinance, and payment technologies. Their core offerings include MiFiX, a financial technology platform designed to enhance traditional banking practices by integrating advanced digital tools. MiFiX addresses various end-use cases, such as facilitating efficient remittance services, streamlining payment processing for businesses, and providing accessible microfinance options for underserved populations. The company serves a diverse clientele, including financial institutions, retail partners, and individual consumers across various regions. Notably, their products are marketed not only in India but also extend to the Middle East, where they cater to a growing demand for modern financial solutions.In the most recent year, 2023, New Street Technologies achieved a revenue of USD 4,591,491.50 with an EBITDA of USD 519,676.80, generating income through transaction fees from their MiFiX platform and subscription-based services tailored to various market segments.Following the funding round in September 2021, New Street Technologies aims to utilize the raised USD 4.00 mn for future growth and expansion. The company is focusing on launching new products and expanding into new markets, particularly in regions where there is a significant demand for advanced financial services. Specific plans include enhancing MiFiX features and penetrating more markets in the Middle East by the end of 2024.

## Funding rounds

- Series B, Sep 22, 2021, $4M — Capria Ventures
- Seed, Mar 25, 2019, $2.2M — Capria Ventures, Cyclops MedTech Pvt. Ltd., Predible Health

## Investors

- Capria Ventures (https://capitalatlas.ai/funds/capria-ventures) — Seed, Series B
- Cyclops MedTech Pvt. Ltd. — Seed
- Predible Health — Seed