Swipe, a fintech startup, has raised $2 million in a seed round from Y Combinator, Cred’s Kunal Shah, GFC and over 25 other prominent angels.

The funding round also saw participation from Global Founders Capital, Duro Ventures, K3 Diversity Ventures, Soma Capital, Locus Ventures, Lish Lee Jung & Oliver Jung.

As per the founders, the funding round will help them make the Swipe app more holistic, i.e. allowing offline stores to deliver marketing campaigns in the form of SMS, WhatsApp, adding language support, including Bengali and Kannada. The startup will also use the funds to acquire more consumers across Tier 2 and 3 cities.

Swipe | Simple Invoicing, Billing, GST App For SMEs

Founded by Sri Teja Allaparthi and Aditya Vemuganti, Swipe is a billing and payments app for small businesses enabling them to create an invoice in 10 seconds and send it to their customers over WhatsApp.

Commenting on the development, Sri Teja, Co-founder of Swipe, said,

“We want to have everything SMEs need to win. It is expected that there will be 105 million-plus SMEs in India by 2024. We imagine Swipe to be a simple end-to-end software stack that every small business needs to grow.”

The app provides customers with multiple ways to pay instantly. Also, business owners can keep track of pending payments and send reminders. As per the startup, within a year of its launch, it has over 25,000 business owners registered with them using this technology and has recorded over $30 million in transactions.

Speaking about the platform, Aditya V, Co-founder of Swipe, said,

“Swipe was founded on the premise of monetising the consumer base, while accounting gets automated. For a small business which competes with the likes of Amazon, every rupee of increased revenue is like gold for them. They need tools to compete, especially tech tools, to reach a lot of consumers, build long term relationships.”

Need legal assistance for your startup? Just contact us.

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