New Delhi-based app catering platform GenWise has raised $3.5 million in a seed funding round led by Matrix Partner India. DBR Venture, the family office of the Jagran Group and Climber Capital. Angel investors like Kunal Shah (founder and CEO of CRED), Suhail Sameer (CEO of BharatPe), and Achal Mittal (founder of LiquiLoans) also participated in the fundraising round. 

The company will utilise the newly generated capital to establish an initial team and facilitate the launch of its application. 

Founded by former BharatPe executives Geetanshu Singla, Nehul Malhotra and Rajat Jain, GenWise has claimed to cater to the senior citizens in the country. According to a report by Entrackr, the company helps younger members of the family to stay connected to the older ones. 

“The app also serves as a platform for younger family members to stay connected with their parents and other elderly ones. It balances the need of the older generation to have their autonomy while having the comfort of knowing their loved ones are a tap away,” the statement added.

According to a report by the Economic Times, the company targets people from the 50-75 age group. According to Malhotra, this is the fastest-expanding age group in India. 

“The app also serves as a platform for younger family members to stay connected with their parents and other elderly ones. It balances the need of the older generation to have their autonomy while having the comfort of knowing their loved ones are a tap away,” the statement added.