Micro-savings platform Siply raises $3.2M

Siply, a micro-savings platform located in Bengaluru, has received $3.2 million in equity and debt in its pre-Series A funding round.

LetsVenture, AngelList India, and Founder Room Circle led the round, with participation from Kunal Shah ( CRED ), Beerud Sheth ( Gupshup ), Satish Grampurohit (ex-Infosys), Shanti Mohan (LetsVenture), and Pratekk Agarwaal (angel investor, ex-CBO- BharatPe ). JITO Angel Network, an existing investor, also took part in the round.

Sousthav Chakrabarty, Co-founder and CEO of Siply, said, “Financial inclusion is still a distant reality for our country. With Siply, we are dedicated to serving Bharat and playing a crucial role in enabling every individual in the country with micro-savings and investments solution. With these funds, we shall further the reach of Siply to over 400 towns and strengthen our team and tech.”

Founded in July 2020 by Sousthav Chakrabarty and Anil Bhat, Siply is a fintech startup that claims to cater 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.

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