Multipl
Key Highlights:
  • Multipl, a fintech startup, has raised $3 million in a Pre-Series A financing round.
  • In 2020, Multipl was founded by Paddy Raghavan, Jags Raghavan, and Vikas Jain to help users manage money and save for future expenses.
  • Several Indian brands like Croma, Kalyan Jewellers, Yatra, PickYourTrail, Ather Energy, Livespace, Bounce, Home Capital, Garmin, and Turtlemint, among others have partnered with Multipl.

 

Multipl, a fintech startup, has raised $3 million in a Pre-Series A financing round led by Blume Ventures, GrowX Ventures, IIFL, and Kotak Securities Limited.

According to the company, fresh capital will be used to expand investment opportunities on its platform and make it easier for users to plan their expenses.

In 2020, Multipl was founded by Paddy Raghavan, Jags Raghavan, and Vikas Jain to help users manage money and save for future expenses. Market Saver and BrandSaver are their two models. By partnering with other brands, Brand Saver helps users save money with those brands for future purchases. It helps users invest in mutual funds with the Market Saver model.

Several Indian brands like Croma, Kalyan Jewellers, Yatra, PickYourTrail, Ather Energy, Livespace, Bounce, Home Capital, Garmin, and Turtlemint, among others have partnered with Multipl. According to the company, It claims to have crossed 150K app downloads on the Google Play Store and iOS Store.

Currently, the company is focusing on bringing new brands on board and offering additional services on its platform this year. Multipl even plans to finance all types of expenses, such as travel, gadgets, home renovation, insurance, children’s education, and vehicles. 

As per the company’s website, it is a SEBI-registered investment advisory.

Growing Investment:

India had over 400 investment tech startups, as of December 2020. Tech startups’ investment in India raised $379.2 Mn between 2015 and 2020. In the next four years, the sector is also expected to grow at a CAGR of 22.4%.

Recent announcements of investments have also been plentiful in the sector. Satya Nadella, the CEO of Microsoft, joined the wealth management startup Groww in January as an investor and advisor.

Savings and investment platform Jar raised $4.5 Mn as part of its Pre-Series A round led by Tribe Capital, Arkam Ventures and WEH Ventures in September last year.CRED founder Kunal Shah, former Uber CPO Manik Gupta, and Streamlabs co-founder Ali Moiz participated in the round as angel investors.

 

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