Amit Jain, former head of Uber’s Asia Pacific division, said on Monday that his new venture, Zamp Finance, has secured $21.7 million in seed funding.
Zamp Finance simplifies the process for businesses to invest their excess capital in US Treasury bills, providing a hedge against bank failures and other uncertainties. The US-registered startup’s seed round was led by Sequoia India and Southeast Asia, with participation from a number of high-profile executives including Uber CEO Dara Khosrowshahi, former SoftBank chief operating officer Marcelo Claure and Doordash chief executive Tony Xu.
TechCrunch reported about the investment talks in May. Jain left Sequoia India and Southeast Asia, where he served as a partner, last year.
Zamp offers a treasury management platform that enables business...
