Fintech Startup GalaxyCard Raises Seed Funding From Samyakth Capital And Others

• Gurugram-based fintech startup GalaxyCard raises an undisclosed amount in Seed funding from various prominent angel investors.
• GalaxyCard is a Gurugram-based fintech startup that focuses on providing instant credit cards to its customers.

Gurugram-based fintech startup GalaxyCard raises an undisclosed amount in Seed funding from a group of angel investors, including Mumbai based venture capital firm Samyakth Capital and other angels from Eaglewings Ventures Alliance Network.

Gopinath Latpate (Executive Director of commercial real estate firm JLL India) also invested in the funding round, said reports.

According to the portfolio report, the Gurugram-based Startup Investor and Accelerator Program India Accelerator is also a seed investor in GalaxyCard.

The startup will use fresh seed capital to expand its customer base in the country. Currently, it has customers in more than 600 cities across the country, said reports.

GalaxyCard is working aggressively on its expansion plans to strengthen its foothold in the market. On that note, To increase the customer base, it is planning to launch premium credit cards that will give a higher spending limit to customers in the less than Rs 30,000 per month income bracket.

Additionally, GalaxyCard is also planning to introduce digital gold for customers who have been affected by the exacerbating effects of the COVID-19 pandemic and looking for a flexible and convenient credit option.

Also Read: EV Startup Ather Energy Raises $35 Million In Funding Led By Sachin Bansal, Hero MotoCorp

“The traditional credit card application process does not fit customers of all income groups. Additionally, the amount of money that goes into paying annual and interest charges for using a credit card is massive that make people rely on the traditional lending process. Through GalaxyCard, we focus on making credit cards available to customers with an income of less than 30k a month and help them become self-reliant when it comes to taking credits," said Amit Kumar (Founder of GalaxyCard).

"Samyakth Capital is one of the first backers in FinTechs. Our investment in GalaxyCard comes as a result of deep alignment with Amit's vision of GalaxyCard and on his passion to make credit cards available to everyone," said Mr. Aalesh Avlani of Samyakth Capital.

About GalaxyCard - GalaxyCard (operated by GCT Technologies Pvt. Ltd.) is a Gurugram-based fintech startup founded in 2017 by Amit Kumar. The startup focuses on providing mobile-based instant credit cards in less than 3 minutes to its customers without any joining fees or interest charges.

It is considered one of India's fastest and easiest lending solutions offering instantly approved mobile-based instant credit cards.

Follow IndianStartupNews on Facebook, Instagram, Twitter for the latest updates from the startup ecosystem.