Fintech Startup YPay Raises $400K Led By We Founder Circle
YPay, a Fintech startup, has raised a bridge funding round of $400,000 led by We Founder Circle (WFC), a global platform of founders for founders, helping startups with business, community and fundraising.
Marquee investors, including Amit Tyagi, Gaurav Juneja, Ravi Gupta (Founder, Safexpay), and a senior CXO, Pragatii Bhargava, also participated in the bridge round.
With this funding, the fintech startup plans to acquire talent as the brand moves towards its next milestone. Additionally, the startup will also use some amount for technology development and fuel further growth.
Founded by Dr Navneet Gupta, fintech startup YPay lets youngsters make payments independently, relieving parents of the trouble of giving them physical cash or their debit/credit card. YPay, through its prepaid cards available on the YPAY app, makes it convenient for youngsters to make online and offline payments, ensuring safety, security, and yet provides financial freedom to kids in a controlled manner.
Speaking on the development, Navneet Gupta, Founder and CEO of YPay, said,
“Payments is a thick slice of the entire fintech pie and has great potential of creativity and convenience. We plan to unleash this potential. YPay card has already facilitated over 35,000 transactions in a short span of time.”
Navneet also said they are overwhelmed with the response received so far and added that the startup aims to serve a larger customer base of 100,000 individuals by the end of this fiscal year.
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