Fintech startup LeRemitt and Yes Bank have partnered to introduce a cross-border platform that enables micro, small and medium enterprises (MSMEs) to conduct international transactions in key currencies, including US dollars and euro, according to a statement released on Tuesday.
In addition to multi-currency support, the platform offers transparency, efficiency, and cost benefits for small businesses involved in global trade, making it more accessible for MSMEs, the release said.
“We are excited to introduce our cross-border platform in partnership with Yes Bank. This collaboration highlights our dedication to empowering MSMEs by providing a seamless, efficient, and cost-effective international payments solution,” Sheetal Jain, cofounder and CEO of LeRemitt, said.
Founded in 2022 by Jain, Mahesh Kumar Barate, and Hari Ambati, LeRemitt serves as a cross-border remittance platform, assisting MSMEs in sending and receiving payments, besides offering various other services.
In July 2023, it raised $1.25 million in a funding round led by early-stage investor Axilor Ventures. The round also witnessed participation from venture capital firm Capital A.
Further, LeRemitt aims to expand its service offerings to encompass various aspects of international trade, solidifying its position as a comprehensive solution provider for globally engaged MSMEs.