Fintech startup SayF raises pre-seed round funding
Summary
"Indians love for gold, cashback, and savings, has been just growing, and we have put all this into a single product, where you spend, earn and invest in one transaction," said Priyesh Gandhi, co-founder of SayF.Founded in 2021 by Gandhi and Aman Singh, the Bengaluru-based startup aims to help its users in saving, investing, and optimizing their spending money. It helps its users earn and invest money on everyday expenses.The company claims that users who pay through the SayF app instead of other unified payments interface (UPI) platforms, can earn up to 25% cashback in the form of investment in digital gold. The company stated that over the last four months, the platform has processed transactions of over Rs 7.5 crore and helped its users invest up to Rs 40 lakh until now.According to startup intelligence platform Tracxn, fintech has emerged as one of the top-funded sectors in 2022, amidst a funding winter. Fintech startup NeoGrowth, on Tuesday secured debt funding of $10 million (around Rs 81 crore) from US-based global investment firm MicroVest Capital Management. Last week, online investing unicorn Groww made a strategic investment of undisclosed value in the software-as-a-service (SaaS)-based fintech startup, Digio .In some other early-stage investments in the fintech space recently, gamified savings platform Fello had also raised $4 million in its latest funding round led by US-based Courtside Ventures, with participation from, Entrepreneur First, Y Combinator, Kube Venture, and Upsparks.