Giverly, a social-impact and payments platform, part of IA Impact Labs has recently raised a pre-seed round of funding led by India Accelerator’s iAngels Network.
IA Impact Labs is an SDG-first start-up ecosystem in association with India Accelerator and United Nations Technology Innovation Labs, which claims to be committed to scale purpose-driven start-ups.
The investment round witnessed participation from seasoned Angel Investors and corporate leaders.
The company plans to utilise these funds to strengthen its technology platform, brand positioning and also expand its leadership team. It has also eyed expanding its user base to the corporate space by offering convenient and rewarding pre-paid cards for employees while instilling the culture of giving back to society within the organisation.
Incepted in 2022, Giverly offers VISA-powered pre-paid debit cards issued in partnership with Transcorp International Limited that give users an opportunity to make cost-free donations towards some of India’s most pressing social issues.
The pre-paid card comes along with a variety of exclusive discounts and offers on fashion brands, dine-out venues, travel and entertainment. Considering that there is a grey area in the authenticity of donation platforms, Giverly is tackling the stigma around online donations by providing 100% transparency through real-time updates, photo & video proofs and impact reports to the donors.
Delighted with the fundraising, Sagar Menon, Co-Founder and CEO of Giverly, said, "Today we celebrate not just the successful fundraise, but the belief and trust that our investors have placed in our vision. We will use this capital to continue building a company that not only delivers value to our customers and stakeholders but also creates a positive impact on the world. Thank you to our investors for joining us on this journey of growth and impact”.
Commenting on the investment, Munish Bhatia, Co-Founder of India Accelerator and IA Impact Labs noted, “As a company, Giverly has a clear mission to make a positive impact on society. The company is empowering individuals and organizations to make a difference in the world and we are happy to be a part of their journey. We’re excited to support Giverly's vision and look forward to seeing the positive impact it will have on the communities”.
Commenting on the funding received, Manvi Mehra, Co-founder and CBO, Giverly added, “We are beyond grateful for the kind of investors who have supported us as part of the pre-seed round. They are all industry leaders, bringing not just financial but also intellectual capital onboard. The belief of such seasoned and experienced individuals in our vision only strengthens us to work harder, and we are confident that it’ll be an extremely fulfilling journey for us all!”
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