Fintech startup Zype has raised Rs 146 crore in a funding round led by Mumbai-based private equity fund Xponentia Capital, along with the participation from Vivek Vig, a BFSI sector veteran.
The startup plans to use the raised capital for building its technology platform, expanding the team, and customer acquisition.
Yogi Sadana founded Zype. Sadana has held several leadership positions with Indian and multinational organisations in the past. Zype, which is in stealth mode, is a credit-first financial well-being and lifestyle app.
The Mumbai-based fintech startup said it aims to improve access to credit for millennials and help them develop sustainable financial habits.
“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,” said Yogi Sadana, Founder & CEO.
Speaking on the investment, PR Srinivasan, Managing Partner, Xponentia Capital, said, “We truly look forward to working with Vivek, Yogi, and the team of Zype 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 Zype will play a key role in the fintech industry.”
Vivek Vig, Mentor and Board member said, “I am sold on Zype’s vision and Yogi’s leadership. I believe in the team’s ability to build an iconic company and capture the opportunity that the next decade has to offer.”