MetaMap (formerly Mati), a startup that creates a merit-based trust and reputation infrastructure layer to help businesses transition to a borderless economy, announced today that it has raised 530 crores in Series B funding led by Tribe Capital, with participation from Craft Ventures, Alameda Research (FTX), Titan Capital, and prominent angel investors including Jerry Murdock, founder of Insight Partners. The latest funding increases the company’s total funding to 630 crores, and it will be used to invest in product development and worldwide expansion as it works to assist billions of people have access to online services and experience upward mobility. MetaMap is establishing a major tech cluster in India, with over 30 people now spread across offices in Bangalore and Gurgaon, and plans to more than double headcount in the country this year. In addition, the company has announced a number of collaborations with top Indian fintechs, marketplaces, and cryptocurrency exchanges.
“The world continues to gravitate towards a more fluid, borderless economy that fosters greater participation from individuals who have typically been excluded from global commerce. However, the tools needed to make this vision a reality are still missing,” said Filip Victor, founder and CEO of MetaMap. “For entrepreneurs building apps and regulated services, this presents a substantial challenge: how do you qualify billions of potential customers who can’t evidence their own qualifications?”