Fintech start-up MoneyPlanned has raised over Rs 2.5 crore in a seed funding round led by Inflection Point Ventures.
The funds raised will be used for marketing and user acquisition, deepening the tech infrastructure and expanding the tech and business teams.
The other investors who participated in the round include California-based startup accelerator Expert Dojo, Joseph R Saviano – partner at Dot Capital, New York and Sameer Khan – executive director corporate treasury, DBS Bank, Singapore.
Founded in July 2020 by Sameer Shashank Gattupalli and Nikhila Putcha, MoneyPlanned is a fintech platform assisting clients to automate their financial goals.
“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 lessons from the Covid pandemic. 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,” Vinay Bansal, Founder CEO, Inflection Point Ventures, said.
MoneyPlanned currently has 10,000 weekly active users and 35,000 monthly active users, with the platform collectively tracking financial goals worth Rs 6,500 crores.