Siply raises $1 million in Seed Round led by Inflection Point Ventures
Summary
Tech-enabled micro-savings application Siply, founded in July 2020 by Sousthav Chakrabarty, Anil Bhat, and Nitin Mittal has raised $ 1 million in a Seed round led by Inflection Point Ventures, India’s largest and the most active angel network. The funds raised will be utilized for team expansion, scaling up technology platform and conducting initial pilots with the Partners. Siply’s approach of enabling the under-banked population to start saving is a disruptive idea as many fin-tech companies are still not looking at the bottom of the pyramid quite actively. This should expedite our user acquisition plans.” Siply is a fintech startup that is catering to 40 crore underserved masses, making them financially independent. This micro-savings app provides frictionless savings, with the help of a vernacular approach, digital onboarding, instant withdrawal, and a wide range of investments.