Bharosepe Know-how Providers Pvt. Ltd, which operates financial-technology agency Jodo, has raised Rs 28.5 crore ($3.eight million) in seed funding, in response to studies.
The Bengaluru-based firm has raised this capital from funding corporations together with Matrix Companions, SAIF Companions, and a clutch of excessive net-worth angel traders, Entrackr reported, citing regulatory filings.
Angel backers embody Amit Rajan; Zerodha founder Nithin Kamath, who invested by way of Rainmatter Capital; SoftBank’s Sarthak Misra; and Kunal Shah, who invested by way of QED Innovation Labs.
Each Matrix and SAIF Companions have every picked up a stake of 13.08% in Jodo for Rs 13.9 crore every. The angel traders, in the meantime, have cumulatively invested Rs 70 lakh within the firm, per the report.
VCCircle has reached out to the startup on the small print of this fundraising train and can replace this report accordingly.
Jodo was arrange earlier this yr by Atulya Bhat, Raghav Nagarajan and Koustav Dey, all of whom have labored at Matrix. In response to its web site, the corporate presently helps dad and mom pay their kids’s month-to-month faculty charges.
Nevertheless, Jodo additionally says that it goals to be a full-service monetary companies firm, with its merchandise serving to individuals meet their wants.
Offers within the fintech area
Investor curiosity within the financial-technology phase has continued unabated regardless of the affect of the Covid-19 pandemic.
Earlier this month, group payments-focused goDutch raised $1.7 million (round Rs 12.81 crore) in a seed funding spherical led by Matrix. Different individuals within the spherical included Y Combinator, International Founders Capital, Soma Capital and VentureSouq.
Additionally this month, blockchain-based chit fund administration platform ChitMonks raised about Rs 5 crore from early-stage investor Unicorn India Ventures.
Final month, Rainmatter Capital – the fintech-focused fund and incubator arrange by on-line stock buying and selling startup Zerodha – invested Rs 3.5 crore in GoldenPi Applied sciences Pvt. Ltd, a market platform centered on fixed-income investments.