Neobank : 100th Unicorn In The Country
India’s wave of unicorns reaches an all-time high with Neobank Open becoming the 100th unicorn in the country.
- Neobank startup, OPEN becomes the 100th unicorn in India with the latest funding of 50 million dollars from IIFL along with existing investors.
- The Indian Startup Ecosystem, the third-largest in the world in number of Unicorns, is now home to 100 unicorns with a total valuation of 332.7 billion dllars.
- Commerce & Industry Ministry said that one out of every 10 unicorns born globally belongs to India.
- The term ‘Unicorns’ is referred to startups that attain a valuation of more than 1 billion dollars.
- As per the ministry, in the first four months of 2022, India has given birth to 14 unicorns with a total valuation of 18.9 billion dollars.