MoneyPlanned Raises Rs 2.5 Crore In A Seed Funding Round
MoneyPlanned, a fintech platform, has raised over Rs 2.5 crore in a seed funding round led by Inflection Point Ventures.
Expert Dojo, an early-stage startup accelerator, Joseph R Saviano, partner at Dot Capital and Sameer Khan, Executive Director Corporate Treasury, DBS Bank, Singapore, among other angel investors, also participated in the funding round.
As per the startup, the raised funds will be used towards marketing and user acquisition, deepening its tech infrastructure, and expanding tech and business teams.
MoneyPlanned | Set Your Financial Goals On Autopilot
Founded by Sameer Shashank Gattupalli and Nikhila Putcha in July 2020, MoneyPlanned is a personal finance platform for millennials, simplifying financial goals and investments.
The platform offers services like financial goal planning, automated advice across asset classes, simple and easy transactions along with financial footprint consolidation.
Speaking about the development, Sameer Shashank Gattupalli, Founder & CEO of MoneyPlanned, said,
“Thousands of urban millennials are using MoneyPlanned to plan & invest towards their financial goals. Our mission is to create the best platform for automating financial fitness (with our patented tech) and to enable unparalleled access to a modern ecosystem of financial products and services.”
MoneyPlanned aims to disrupt the large fintech market through its simplified and affordable app, using a patentable workflow which helps users identify, set and track goals.
The fintech startup helps facilitate investments, loans, insurance and tax planning. It claims to have 10,000 weekly active users and 35,000 monthly active users.
Commenting on the development, Vinay Bansal, Founder and CEO of Inflection Point Ventures, said,
“India has a large base of salaried people with more youngsters joining the workforce every year. Financial planning is not a luxury anymore but a necessity, that’s one of the biggest learning from the Covid pandemic. Thus, from a market opportunity perspective, MoneyPlanned’s platform is built to offer a personalised service at scale. At IPV, we invest in businesses that have the ability to scale while maintaining a healthy business matrix.”