HiWi, a cross-border remittance fintech company, said that it has raised Rs 7.5 crore in a round of funding co-led by Unicorn India Ventures and the Unmaj Group Family Office. The fintech company claimed that the money will be used to advance product development and carry out a deliberate go-to-market deployment. Dewang Neralla, a Former CEO of NTT Data India, and Geeta Chauhan, as well as Ujwal Tamminedi, Co-Founded HiWi, which has its headquarters in Mumbai.

The business claimed that it wants to address problems with opaque currency rates, excessive forex margins, and documentation difficulties for many industries, including the study-abroad industry and commerce and finance for small and medium-sized businesses. Although education is our initial area of concentration, we intend to broaden our services to include SMEs, further streamlining and improving the remittance process, according to Narulla.

HiWi is initially focusing on a centralised and integrated platform to make it easier for students to remit money back home while studying abroad. Students can transfer money, open overseas bank accounts, access financing alternatives, and control credit card spending with this user-friendly smartphone application.

The market for overseas education is always expanding. We at Unicorn have researched this market and have invested in fintech and study abroad businesses, according to Anil Joshi, Managing Partner of Unicorn India Ventures. HiWi is utilising technology to fill a critical need by making cross-border payments simpler and more practical for both parents and students.