Open is based in Bangalore and is looking to replicate a strategy which has been successful in other regions; their offering includes many features of a traditional bank account alongside other tools to help businesses manage all aspects of their business including payments, other bank accounts, bookkeeping, and spending; they have raised $30 million in their Series B round which included Speedinvest who has invested in both Tide and N26; Open already has a partnership with ICICI Bank which is one of the biggest banks in India; they are signing up around 20,000 customers each month and processed $5 billion in transactions last year. Source
