Cutting-edge Fintech startup Zype has raised almost $18 million in a funding round headed by the Mumbai-based private equity firm Xponentia Capital. Zype intends to use the money to expand the workforce, develop its technology platform, and attract new clients.
Zype is a credit-first financial well-being and lifestyle software that aids users in obtaining immediate credit. It assists millennials in gaining better access to credit and forming enduring money habits. The startup is still in stealth mode.
Yogi Sadana, founder and CEO of Zype, said, “We are in the process of building Zype, a customer-first platform where we intend to offer credit products and interactive money management tools. Our passionate young team has been dedicatedly working on the technology platform.”
Sadana added that the platform’s intuitive money management tools could help credit users manage their spending, receive bill reminders and make timely payments through the app.
Zype will likely launch its services next year
Zype allow the customers to make their aspirational lifestyle affordable while helping to make responsible financial decisions and positively contribute to their financial well-being.
The startup will help the next generation of credit users get instant credit and always have access to money when needed by providing a fully digital and seamless user experience. This, combined with its user-friendly money management tools, can help them manage their spending, receive bill reminders, and make timely payments from one app.
P.R. Srinivasan, the managing partner of Xponentia Capital, said, “We truly look forward to working with Vivek, Yogi, and the team to create inroads in the fintech ecosystem of India. The future of fintech in India looks robust, and with the Zype management team’s experience in technology, risk management, finance, and payments, we are confident that the startup will play a key role in the fintech industry.”