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AuthPay raises $450K in pre-seed round

EntrackrEntrackr · 1y ago
AuthPay raises $450K in pre-seed round
Medial

Fintech startup AuthPay has secured $450K in a pre-seed round of funding led by SCOPE VC. The proceeds will be used to propel its growth, enabling the startup to leverage technologies and transformative business models within the fintech sector, AuthPay said in a press release. Established in July 2020, AuthPay provides secure payment solutions for businesses worldwide leveraging advanced technology and a customer-centric approach. The platform enables businesses to streamline transaction processing, enhance security, and deliver seamless payment experiences to their customers. AuthPay is a smart wallet that maximizes rewards for every purchase. Its patent-pending AI recommends the card based on merchant type, location, and loyalty programs. SCOPE is an invite-only networking platform that connects startups, investors, and industry experts on a global scale. This investment in Authpay follows SCOPE VC’s recent launch of a $45 million venture capital fund which is dedicated to fuel innovation in fintech and gaming sectors.

Related News

F&B startup Nuvie raises $450K in pre seed round led by PedalStart

EntrackrEntrackr · 25d ago
F&B startup Nuvie raises $450K in pre seed round led by PedalStart
Medial

Snippets F&B startup Nuvie raises $450K in pre seed round led by PedalStart F&B startup Nuvie has raised $450K (about Rs 3.8 crore) in its maiden pre seed funding round led by startup accelerator PedalStart, along with participation from Mukesh Bansal (founder of Myntra, Cult.fit, and Nurix), Ayyappan R, Chanakya Gupta, and Arun Sharma. The proceeds will be allocated towards new product development, brand building initiatives, content creation, expanding distribution, and unlocking growth opportunities. Co founded in May 2024 by Prashant Paliwal and Hem Narayan, Nuvie aims to redefine healthy eating in India with “better for you” products such as improved milkshakes and chocolates that make wellness enjoyable and accessible. Its approach is to break the stigma and seriousness often associated with health, making it feel effortless, enjoyable, and part of a natural lifestyle. Having launched its lactose free Ready to Drink Protein Shake in three flavours, it is now introducing five new shake variants. The product pipeline also includes innovative offerings like a protein chocolate bar, a healthier spin on traditional chocolates, and protein infused cold coffee, or “Proffee.” Nuvie says it has expanded its footprint and is now available in more than 100 premium retail stores across major metros like Delhi, Mumbai, Hyderabad, and Chennai. Its products are also present in over 200 gyms and are reaching customers nationwide through key quick commerce platforms such as Blinkit, Instamart, and BigBasket. The brand is focused on scaling its online presence via its own website and quick commerce channels. The Bengaluru based startup claims to have seen strong early traction, clocking over Rs 10 lakh in monthly revenue from its very first month of launch. It is now aiming to close CY 2025 at an ARR of Rs 10 crore.

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