SayF, the first rewards-based savings app in India, has secured $240k in a pre-seed round. Titan Capital, Sunn91 Ventures, and several illustrious angel investors are leading the current round. The platform will use the cash to create its initial team, improve its product, and do early product testing.
SayF, founded in 2021 by Aman Singh (IIT Delhi, 2022 batch) and Priyesh Gandhi (NIT Karnataka, 2021 batch), promises to assist its users in saving, investing, and optimising their financial spending for the future. One of the key components of accumulating wealth, establishing a secure financial future, and achieving financial freedom is saving money. Savings has become a nightmare in this day and age, especially with the incoming GenZ generations going towards a spending economy, with apps like Google Pay and Phonepe where completing a transaction takes less than 3 seconds. Additionally, the retirement savings gap is growing at a 10% CAGR annually, which encourages people to boost their personal savings in order to survive in the future. SayF can be used to better protect the system against similar circumstances.
When asked why SayF, Priyesh V Gandhi, Co-Founder at SayF, said, “Indians’ love for gold, cashback and savings, has been just growing, and we at SayF club have put all this into a single product, where you spend, earn and invest all in a single transaction at our 300+ brands stores ranging from Swiggy, Uber to Reliance smart. We are very excited to get support from such marquee investors in our journey.”
Aman Singh, Co-Founder at SayF, said, “It is fascinating to see how users are adapting to the new way of investing. At SayF, we are building a product made for India from the ground up & fits exactly to India’s ethos of saving & investing. We promise that there has never been an easier way to start investing while making simple daily transactions. Go & give it a try now & we are sure you will be amazed.”
Bipin Shah, Partner at Titan Capital, said, “Future is uncertain, and it has become imperative to build up the finance to survive in the unprecedented time and to meet various other objectives of day-to-day life. SayF is one platform that is paving the way for Indians to make smart decisions when it comes to saving money. We are happy to be associated with SayF and its talented team. We see a huge potential in their venture. With SayF, users can manage their personal finances, save money, and invest“.
Savings with SayF are 7x higher in comparison to other existing savings apps. More than 50K SayF users, and 76% came via referrals. Over the last four months, the platform has processed more than Rs 7,50,00,000+ transactions and helped users invest about Rs 40,00,000+. Going forward, SayF will help to track, spend, save, earn and invest money all in one place.