The fintech platform Multipl has raised an additional $1.5 million (roughly Rs 12 crore) in an extended seed round led by MIXI Global Investments, Inc. and Blume Ventures.
In May 2022, the startup had previously raised $3 million from Kotak Securities Limited, GrowX Ventures, IIFL, and Blume Ventures.
According to a press release from Multipl, the money raised will support improvements and the addition of disruptive features, assisting more Indians in beginning their spendvesting journeys.
Multipl is a modern fintech platform that allows investors to purchase mutual funds. It was co-founded in 2020 by Paddy Raghavan, Jags Raghavan, and Vikas Jain. The platform allows users to invest in mutual funds for their lifestyle expenses by integrating with mutual funds and brand partnerships.
Multipl asserts that it has formed over 100 worthwhile brand partnerships, achieved 500,000 downloads, and assisted in the achievement of objectives worth over Rs 1,000 crore.
The Bengaluru-based company says it recently launched ‘Open Goals,’ allowing users to invest in future costs through collaborations with top brands. By integrating options for financial planning at the point of purchase across merchant websites and apps, the platform’s window shopper widget further increases consumer savings.
Groww, AngelOne, PhonePe, and other companies are the main players in this market.
