MUMBAI: Fintech startup Swipe on Friday stated it has raised $2 million in seed spherical from Y Combinator, Cred’s Kunal Shah, GFC and over 25 different distinguished angels. The startup was incubated at riidl, Somaiya Vidyavihar College.
Swipe is a billing and funds app for small companies. Utilizing Swipe, the corporate stated, companies can create an bill in 10 seconds and ship it to their clients over WhatsApp. Prospects are supplied a number of methods to immediately pay, and enterprise homeowners can hold observe of pending funds and ship reminders.
Inside a 12 months of its launch, the platform stated it has over 25,000 enterprise homeowners registered with them utilizing this know-how and has recorded over $30 million in transactions.
“We wish to have all the pieces SMEs must win. It’s anticipated that there can be 105 million-plus SMEs in India by 2024. We think about Swipe to be a easy end-to-end software program stack that each small enterprise must develop,” stated Sri Teja, co-founder of Swipe.
The spherical was led by Y Combinator, and in addition noticed participation from World Founders Capital, Soma Capital, Locus Ventures, Duro Ventures, K3 Variety Ventures, Lish Lee Jung & Oliver Jung.
Aditya V, co-founder of Swipe, stated, “Swipe was based on the premise of monetising the patron base, whereas accounting will get automated. For a small enterprise which competes with the likes of Amazon, each rupee of elevated income is like gold for them. They want instruments to compete, particularly tech instruments, to succeed in lots of shoppers, construct long run relationships.”
Supply: Live Mint