Multipl, a pioneering fintech platform, has successfully secured $1.5 million (approximately Rs 12 crore) in an extended seed funding round co-led by Blume Ventures and MIXI Global Investments, Inc.
This funding round marks another milestone for the Bengaluru-based startup, following its previous $3 million raise from prominent investors including Blume Ventures, GrowX Ventures, IIFL, and Kotak Securities Limited back in May 2022.
Founded in 2020 by Paddy Raghavan, Jags Raghavan, and Vikas Jain, Multipl has swiftly carved a niche in the fintech space by offering innovative investment solutions focused on mutual funds. The platform integrates seamlessly with mutual funds and has established strategic partnerships with numerous brands, enabling consumers to invest in mutual funds tailored for lifestyle spends.
The latest funding will be pivotal in accelerating Multipl’s growth trajectory, particularly in enhancing its platform with disruptive features aimed at simplifying and democratizing investment opportunities for Indian consumers. In a press release, Multipl expressed its commitment to leveraging the funds to introduce new enhancements that facilitate more Indians in embarking on their investment journeys.
Multipl boasts significant achievements, including over 500,000 downloads of its platform and forging more than 100 valuable brand partnerships. The platform has facilitated goals valued at over Rs 1,000 crore, underscoring its impact in the fintech ecosystem.
Recently, Multipl introduced ‘Open Goals,’ a feature that allows users to invest in future expenses through partnerships with leading brands. Additionally, the platform’s innovative ‘window shopper widget’ enhances consumer savings by embedding financial planning options directly into the shopping experience across merchant websites and apps.
With this fresh infusion of capital, Multipl aims to further enhance its technological capabilities, expand its user base, and solidify its position as a leading player in India’s rapidly evolving fintech landscape. The startup remains focused on empowering individuals with accessible and efficient financial solutions, driving greater financial inclusion and empowerment across the country.
