Temasek and General Atlantic in talks to back Indian neobank Open

Bangalore-based neobank Open is in advanced stages of talks to raise about $100 million, according to two sources familiar with the matter.

Temasek, the Singaporean government’s sovereign wealth fund, and General Atlantic are positioning to co-lead the Series C financing round, which values the Indian startup at pre-money $600 million, the sources told TechCrunch, requesting anonymity as the matter is private. Open was valued at about $150 million in its Series B funding round two years ago.

Existing investor Tiger Global, PayPal, which shuttered its domestic operations in the world’s second largest internet market early this year, as well as Google and Amazon are in talks to participate in

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