Multipl, a fintech startup, has raised $3 million in a funding round led by Blume Ventures, GrowX Ventures, IIFL, and Kotak Securities Limited.

The fintech startup plans to utilize the funds to widen investment options and help Indians plan their expenses better.

Multipl | Plan Now, Pay Later

Launched by Paddy Raghavan, Vikas Jain and Jags Raghavan in 2020, Multipl is a Plan Now, Pay Later app that rewards users for saving for future expenses by encouraging ethical and more conscientious consumption.

With aims to capture the large millennials and Gen-Zers segment, the fintech startup plans to provide accessible finance for all their expenses, including travel, gadgets, home renovation, children’s education, insurance, and vehicles, amongst others.

Speaking about the development, Paddy Raghavan, Founder of Multipl, said,

“With investor’s support, we will expand our base five times and innovate faster to incorporate many more models that will help users gain superior returns which are personalized to them and their goals. Our vision is that all Indians adopt the efficient way of saving and spending and never leave money behind on any of their future expenses.”

The fintech startup claims to have crossed 1.5 lakh downloads in the first six months of opening its app access. Multipl has partnered with top brands in India such as Croma, Kalyan Jewellers, Ather Energy, Turtlemint, Livespace, Yatra, PickYourTrail, Bounce, and Home Capital, among others, and offers exclusive benefits to its users in addition to app rewards such as cashback and coupons.

The fintech startup wants to integrate savings, investing and spending for millennials and GenZers, by leveraging proprietary investment framework and brand partnerships, helping generate returns from the market and benefits from brands to create a significant upside while reaching their lifestyle goals.

Need legal assistance for your startup? Just contact us.

Follow us and connect with us on Instagram, Facebook, Twitter and LinkedIn.