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Mumbai-Based Fintech PocketATM Raises $400,000 In Pre-Seed Funding

OutlookIndia

OutlookIndia · 1y ago

Mumbai-Based Fintech PocketATM Raises $400,000 In Pre-Seed Funding

Mumbai-based fintech PocketATM has raised $400,000 in a pre-seed funding round. The investment was led by Indian Express Commercial Ventures, Modicare's Samir Modi, and other prominent investors. PocketATM allows customers to withdraw cash from nearby Kirana stores using QR codes, eliminating the need for cards or traditional ATMs. The platform aims to offer convenient and reliable cash withdrawal services at minimal charges, utilizing the UPI protocol. The company plans to expand its operations beyond Mumbai and Navi Mumbai. India sees over 550 million cash withdrawal transactions on a monthly basis across 2.3 lakh ATMs.

Related News

Fireside Ventures extends early-stage funding to two startups

VCCircle

VCCircle · 1y ago

Fireside Ventures extends early-stage funding to two startups

Fireside Ventures has provided early-stage funding to two startups. Happi Planet, a home care products brand, raised $1 million, which will be used to expand its online presence and physical reach. Meanwhile, fintech startup PocketATM raised $400,000 in a pre-seed funding round to enable local stores to become cash dispensing touchpoints. Lastly, ice cream brand Frubon secured funding for growth and expansion of its product offerings.

GoTrust raises $400,000 to expand data compliance tools

Inshorts · 3m ago

GoTrust raises $400,000 to expand data compliance tools

Privacy compliance and data governance startup GoTrust has raised $400,000 in pre-seed funding led by Aevitas Capital. The funds will aid product development, hiring, and expansion. GoTrust helps firms manage data protection with tools for consent, risk, and compliance tracking. Amid rising privacy regulations, GoTrust is positioned to support businesses with simple, scalable compliance solutions.

MENA Digest: Two Egyptian startups snag funding; Riyadh's Blend raises pre-seed round

VCCircle

VCCircle · 12m ago

MENA Digest: Two Egyptian startups snag funding; Riyadh's Blend raises pre-seed round

Egyptian fintech startups, Lucky ONE and Qardy, have attracted early-stage funding in the MENA region. Meanwhile, Riyadh-based Blend, a restaurant-focused software-as-a-service platform, has successfully raised a pre-seed round. Funding activity in the region has decreased, with notable deals including Oman-based climatetech company 44.01 securing investment.

Drip Project raises funding from Blume Founders Fund, others

Economic Times

Economic Times · 1y ago

Drip Project raises funding from Blume Founders Fund, others

Luxury streetwear jewellery brand Drip Project has raised an undisclosed amount of funding led by Blume Ventures, with participation from other investors. The Mumbai-based startup plans to expand its product catalogue, build inventory, and facilitate growth with the funds. Drip Project was founded in 2021 and later acquired by Metaman. The brand offers a range of jewellery including bracelets, chains, pendants, rings, and earrings. Blume Ventures focuses on investments in pre-seed, seed, and pre-Series-A startups.

Sales Execution Platform Kanlet Raises $400,000 In Pre-Seed Funding Led By Suvan Ventures

OutlookIndia

OutlookIndia · 1y ago

Sales Execution Platform Kanlet Raises $400,000 In Pre-Seed Funding Led By Suvan Ventures

Kanlet, an AI-driven sales execution platform, has secured $400,000 in pre-seed funding. Its platform helps B2B sales teams enhance lead generation and revenue growth by combining various types of data using advanced AI technology. This enables sales and marketing teams to create better strategies, personalize outreach, and automate actions based on buyer intent and relevant triggers. The funding will be used for product development, sales, marketing, and talent acquisition. The Global Sales Intelligence market is predicted to reach $17.11 billion by 2030, signifying a significant growth opportunity for Kanlet in the future.

RenalProject revolutionizing the availability of dialysis therapy raises funding from JITO Angel Network

IndianStartupNews

IndianStartupNews · 1y ago

RenalProject revolutionizing the availability of dialysis therapy raises funding from JITO Angel Network

Mumbai-based healthcare startup RenalProject has secured funding in a pre-Seed round led by JITO Angel Network. The startup aims to enhance the accessibility of dialysis therapy in tier 2 and 3 cities in India by setting up micro-centers for dialysis. The funding will be utilized to expand the tech infrastructure and implement pipeline projects. RenalProject focuses on providing sustained dialysis therapy to minimize travel risks and ensure accessible dialysis for all in need.

MENA Digest: Ejari bags a big cheque; fintechs OCTA, Krti, Qpay get funding

VCCircle

VCCircle · 10m ago

MENA Digest: Ejari bags a big cheque; fintechs OCTA, Krti, Qpay get funding

- Saudi e-grocery delivery platform Nana acquires software solutions provider Rasseed to enhance the shopping experience for users. - Saudi rent-now-pay-later startup Ejari raises $14.65 million in a seed round to scale its business. - UAE-based fintech startup OCTA raises $2.25 million in a pre-seed round to automate payments collection for SMEs. - Dubai-based dropshipping service platform 4Partners secures $3.6 million to expand operations. - Kuwaiti online payment solutions startup Krti secures $1.5 million in pre-seed funding to strengthen the e-commerce sector. - Oman-based BNPL platform QPay closes a seed round led by Cyfr Capital to accelerate growth.

Hyderabad's fintech startup Rupid raises pre-seed funding from EvolveX

IndianStartupNews

IndianStartupNews · 1y ago

Hyderabad's fintech startup Rupid raises pre-seed funding from EvolveX

Hyderabad-based fintech startup Rupid has raised an undisclosed amount in a pre-seed funding round led by EvolveX by We Founder Circle. The investment will support Rupid's earned wage access and employee financial benefit platform aimed at addressing the financial challenges faced by India's employed workforce. Rupid offers a 'Zero cost, Zero risk' solution for employees to access their earned salaries. The funding will help Rupid leverage technology and enhance client acquisition capabilities to empower employee financial well-being.

Funding and acquisitions in Indian startups this week [15-20 Jan]

Entrackr

Entrackr · 1y ago

Funding and acquisitions in Indian startups this week [15-20 Jan]

This week, Indian startups raised a total of $178 million, with two growth-stage and 22 early-stage deals. The funding included investments in startups such as Wow! Momo, OneCard, International Battery Company, StockGro, and FinAGG. Bengaluru-based startups led the city-wise funding deals, followed by Delhi-NCR and Mumbai. Series A stage deals dominated the funding, with 10 deals, followed by pre-Series A, pre-seed, and seed stage deals. Four acquisitions also took place this week, including Cured by Innovaccer, Clientjoy by Synup, ZestMoney by DMI Group, and Kyndi by Qlik.

Rural-focussed fintech Navadhan raises $5 million led by Prime Venture Partners

Economic Times

Economic Times · 1y ago

Rural-focussed fintech Navadhan raises $5 million led by Prime Venture Partners

Rural-focused fintech Navadhan has raised $5 million in its pre-series A funding round led by Prime Venture Partners. The Mumbai-based company, founded in 2019 by senior financial services executives, offers a technology platform called AceN for sourcing, onboarding, underwriting, payments, and collections. Navadhan targets customers who are underserved by banks and uses an underwriting model based on their digital footprint and cash flow surrogates. The newly raised funds will be used to strengthen the AceN platform and expand the company's distribution business.

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