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Updated on: Monday, August 16, 2021, 02:50 PM IST

We Founder Circle leads $400K bridge round in fintech startup YPay

Team YPay | YPay

Team YPay | YPay

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We Founder Circle (WFC), a startup investment platform, has invested in YPay, a financial solution provider for youth and corporates.

YPAY, through its prepaid cards available on its app, enables kids to learn money management and earn points along with attractive cashback and discounts from 300+ brands.

The bridge round worth $400K from WFC saw participation from marquee investors including Amit Tyagi, an entrepreneur-turned-investor who has also invested in Avni (a startup focused on conscious and holistic menstrual care) Gaurav Juneja, Ravi Gupta - Founder, Safexpay, Nishanth Reddy, Angel Investor, Rohith Reji, and Tarun Nazare, Co-founders, Neokred and a senior CXO, Ms. Pragatii Bhargava.

Fintech industry in India that is growing at a CAGR of 20 percent is already valued at more than $31 billion. With an ambition to own a large portion of the entire fintech pie, YPAY aims to provide a diversified bouquet of products and services to the Indian youth and professionals.

“Payments is a thick slice of the entire fintech pie, and has great potential for creativity and convenience. We plan to unleash this potential. YPay card has already facilitated over 50,000 transactions in a short span of time. We will soon raise our Series A,” claims Dr. Navneet Gupta- Founder & CEO, YPay.

With the additional round of funds, YPAY plans to acquire talent as the brand moves towards its next milestone. A part of the fund will also be utilised for technology development and fuel further growth.

On Investing in YPay, Neeraj Tyagi- Co-Founder and CEO, We Founder Circle affirmed, “Indian youth and teens, especially in Tier 2 and Tier 3 cities, have increased their appetite for digital mode of payments. YPAY smart solutions taps this quintessential aspiration of the young Bharat and their need to adopt digital payment solutions. Their product positioning as #BharatkaSmartCard that caught the attention of consumers and investor community-led WFC to invest in them repeatedly.”

This is a follow-up round by We Founder Circle which invested around $175K in YPAY earlier this year.

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Published on: Monday, August 16, 2021, 02:31 PM IST
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