Bengaluru-based neobank Walrus has raised an undisclosed amount in a pre-seed funding round led by Better Capital, Khatabook, Slice, Jupiter, and Yelo.
The funding round also saw participation from seasoned angel investors, including Raveen Sastry (Co-founder, Myntra), Brijesh Thakkar, and Raghunandan G (Ex-Founder and CEO of TaxiForSure), among others.
As per the startup, it plans to utilize the funding amount to expand its team and enhance product features.
Founded by Bhagaban Behera, Nakul Kelkar, and Sriharsha Setty in 2019, Walrus is a digital-only banking platform and is building the next-generation banking and rewards platform for the 100 million teenagers in India.
According to the company, its services can be used by teenagers aged 13 to anyone up to the age 22.
Talking about the platform, Bhagaban Behera, CEO of Walrus, said,
“We allow parents to educate and financially support their children in their first steps using a digital financial product. Built for the Instagram generation, Walrus is an Instagram equivalent for a bank account, which is cool, new-age, intuitive, and easy to use.”