Fintech start-up Pencilton, located in Hyderabad, collected $330,000 for a round of pre-seed headed by Jupiter.
Also in the round were Nilesh Patel and Prashant Singh (LeadSquared), Ashish Sharma (MD, Innovative Capital), Abhishek Goyal (Tracxn) Himanshu Sharma (Aspiring Minds), Kunal Sinha (glowroad), Vignesh Ramanujam (partner at Spoonfeed), and angel investor Tirumalareddy Karri.
The teen-focused fintech company will use the fresh funding to upgrade, manage and launch products.
PencilCard, a debit card that can be activated and used with the aid of an app, was founded by Vishwajit Pureti, Ashish Singh, Pallavi Tipparaju, and Viraj Gadde in 2020.
The company aspires to assist teenagers and students in managing their finances while also teaching them the fundamentals of money management.
