India-based SayF, which offers a personal finance app, has reportedly raised $240,000 in its pre-seed round, which will support its hiring efforts.
Titan Capital, Sunn91 Ventures and other angel investors led the round, according to a report from VCCirle.
With the funds, the company plans to bolster its product development efforts and hire more staff.
Founded in 2021 by Gandhi and Aman Singh, SayF has created a personal finance app that allows users to manage their savings, investing and spending.
The platform enables spending at a variety of online stores, including Amazon and Flipkart, and can earn the user up to 25% in rewards. Another feature of the app is automated savings.
SayF co-founder Aman Singh said, “At SayF, we are building a product made for India & that fits exactly to India’s ethos of saving & investing.”
Another India-based savings app to recently collect funds is Fello. The startup claims to be the first game-based savings app in India.
Fello raised $4m for its funding round, with commitments coming from Courtside Ventures, Entrepreneur First, Y Combinator, Kube Venture and Upsparks. Its app allows users to earn money through weekly Tambola draws.
India’s FinTech market has had a busy start to the year. Earlier this week, Chinese e-commerce giant Alibaba reportedly sold half of its position in India-based payments company Paytm. In addition to this, Morgan Stanley Asia acquired 5.4 million shares in Paytm.
KreditBee kicked off 2023 with the close of a new investment round. The company bagged $100m in additional capital to support its expansion across South Asia.
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