Bengaluru-based fintech SaaS startup Signzy has confirmed it is investigating a potential cybersecurity breach that reportedly occurred last week. The incident has drawn significant attention due to the company’s role in providing digital onboarding solutions to over 240 financial institutions, including banks and NBFCs (Non-Banking Financial Companies).
In a statement, a Signzy spokesperson said, “We have been informed about a security incident recently and we are in the process of investigation. We value the importance of cybersecurity and are taking utmost care.” The startup has engaged a professional agency to probe the matter, underscoring its commitment to addressing the issue.
While specific details about the breach remain unclear, reports from TechCrunch cite multiple sources confirming the cyberattack. The Computer Emergency Response Team (CERT-In), India’s national cybersecurity agency, has acknowledged the incident and stated that it is working with relevant authorities to take appropriate action.
Notably, Signzy’s customer PayU confirmed receiving written communication from the company but assured that none of its data had been compromised. Meanwhile, ICICI Bank clarified that it had no exposure to the incident.
Founded in 2015 by Ankit Ratan, Ankur Pandey, and Arpit Ratan, Signzy has gained prominence for its no-code platform that simplifies digital onboarding for financial institutions. Backed by investors such as Gaja Capital, Vertex Ventures, and Arkam Ventures, the startup has become a key player in the fintech space.
Signzy’s inclusion in the Reserve Bank of India’s fifth regulatory sandbox cohort highlights its innovative contributions. This initiative enables companies to test new products in a controlled regulatory environment, aiming to enhance efficiency and address emerging challenges in financial services.
