Source: YourStory

Bengaluru-based micro-savings fintech platform, Siply, on Monday announced that it has raised $1 million in a seed round from investors like Jain International Trade Organisation (JITO) Angel Network and Inflection Point Ventures (IPV), along with a group of CXOs from India and UAE-based angel investors.

According to the company statement, with this fresh infusion of funds, Siply will accelerate its technology platform integration with ecosystem players, expand the team, and onboard distribution partners.

Founded in July 2020 by Sousthav Chakrabarty and Anil Bhat — both seasoned professionals of the banking, finance and technology sectors, with prior experience of entrepreneurship, Siply provides "sachet financial services" to contract workers, blue-collar workers, gig economy workers, and small business owners. It helps underserved masses inculcate a savings behaviour through its technology-enabled microsavings platform where the investment can be as low as Re 1.