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Micro-Savings Platform Siply Raises $3.2 Million In Pre-Series A Funding

Oct 25, 2021•over 3 years ago

Amount Raised

$3.2 Million

Round Type

pre-series a

Bengaluru

Description

Bengaluru: Bengaluru-based micro-savings platform, Siply, has raised $3.2 million in equity and debt as part of its Pre-Series A. The round was led by LetsVenture, AngelList India, Founder Room Circle and saw participation from investors like Kunal Shah (Cred), Beerud Sheth (Gupshup), Satish Grampurohit (Ex-Infosys), Shanti Mohan (LetsVenture) and Pratekk Agarwaal (Angel Investor, Ex CBO-BharatPe).

Company Information

Company

Siply

Location

Bengaluru, Karnataka, India

About

Existing investor JITO Angel Network also participated in the round, the startup said in a statement on Monday. Siply said it plans to raise Series A, and in the next 12 months, reach a user base of one crore users and process three crore transactions with overall savings of Rs 600 crore and disburse over Rs 500 crores in loans through its micro-credit offering.