Fintech startup CirclePe raised nearly $1 M Pre-seed funding from OTP Ventures
With participation from 1947 Rise, iSeed, IIT Delhi, Venture Catalyst, and founders and CXOs from OfBusiness, BharatPe, Uni Cards, OYO, and other companies, fintech startup CirclePe has raised nearly $1 million in its pre-seed round, which was led by OTP Ventures.
Under the leadership of Navan Jaiswal and Ankur Yadav, CirclePe’s “Smart Renting” solution enables credit-worthy renters to choose a move-in with no security deposit and enjoy the convenience of paying just their monthly rent without incurring any additional fees.
CirclePe is enabling the smart renting feature for independent retail landlords and co-living operators through partnerships with leading proptechs, offering a simple and hassle-free rental experience.
With CirclePe, landlords and co-living operators can access capital without having to pay large security deposits, upending the conventional rental value chain.
Former BharatPe CEO Suhail Sameer is a managing partner at venture capital firm OTP Venture. A media report states that OTP Ventures hopes to close its first fund by June at a value of Rs 400 crore.
