Fintech startup Nimbbl raises $3.5M in funding from Sequoia, Groww, angel investors

Mumbai-based Nimbbl, a fintech startup that operates a payments checkout platform, has raised $3.5 million in funding from Sequoia Capital India, Groww, and Global Founders Capital (GFC).

The round also saw participation from Amara VC and angel investors, including Kunal Shah (CRED), Amrish Rau (Pine Labs), Jitendra Gupta (Jupiter), Prajit Nanu (Nium), and Srinivas Rao (former senior Mswipe executive).

Founded in October 2020 by former Citrus Pay and PayU executives Anurag Pandey and Amit Bansal, The startup offers a one-click checkout solution on multiple payment methods, including UPI apps, BNPL, net banking, wallets, and EMI to merchants.

Through its platform, The merchants can get access to multiple payment aggregators (PAs) and can route transactions based on success rates or commercials without consuming technical or operational bandwidth.

According to Anurag Pandey, The startup has partnered with Razorpay, PayU, Cashfree, CCAvenue, Freecharge and HDFC Bank.

The startup earns money by charging a fee on every transaction it process and claims to have onboarded over 4,000 online merchants in sectors like direct-to-consumer (D2C), airlines, and utilities as clients and processed payments worth over Rs 2,000 crore in FY22.

Amit Bansal, Co-founder at Nimbbl, said, “With us, merchants of all sizes get an ecosystem to manage payments, offers, payment aggregators, and settlements through one dashboard. They instantly get the payment operations capabilities that typically only a few enterprise merchants could afford in the past. Our offering allows them to get a ready-to-use robust payment system taking away the pain of searching, choosing, and integrating from the multiple options available."

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