Fintech startup Hubble has raised $3.4 million (around Rs 26 crore) in a seed funding round led by Sequoia Capital India.

Angel investors, including Kunal Bahl (Co-Founder and Chief Executive Officer of Snapdeal) and Sateesh Andra (Managing Director, Endiya Partners), and several other investors, also participated in the funding round.

The fintech startup plans to use the fresh money towards building a robust decentralised savings infrastructure to power its consumer-facing applications, onboarding leading Indian and global brands onto its platform and hiring talent.

Hubble | Cash Rewards Each Time You Save

Launched by Mayank Bishnoi and Neeraj Tulsyan in 2022, Hubble offers cash rewards each time you save towards your lifestyle goals with trusted brands. Run by Gullak Technologies Pvt Ltd, Hubble also helps brands acquire new customers, drive repeat purchase rates and reduce working capital requirements through advance payments received from customers. 

Commenting on the development, Mayank Bishnoi said,

“More than 95% of Indians count on their savings to fulfill their goals, but the savings options are limited and come with their own set of challenges. Bank deposits give you a return that is less than the inflation rate, and mutual funds returns are not predictable. At Hubble, we offer consumers the choice to save money with trusted brands while ensuring rewarding, predictable, and safe returns.”

As per the startup, it helps consumers earn 5X higher returns as compared to traditional saving products such as fixed deposits and mutual funds. In the coming months, Hubble will invest in building systems, leveraging modern technologies and frameworks like UPI, open banking, account aggregator, etc., stated Neeraj Tulsyan.

Currently, Hubble has partnered with over 25 brands and launched the beta version of its mobile application, available on android and iOS.

Need legal assistance for your startup? Just contact us.

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