With fresh infusion of funds in extended pre-seed funding round, India’s first social finance-based neo-banking platform SaveIN announced its plan to deepen its product offering by banking, credit and payments in the next few months. The Fintech has recently raised funds in its extended pre-seed round, led by seasoned investors including Narendra Kumar (Co-founder, Enterslice Fintech Private Limited), Ankur Seth (Director, Elite Wealth Advisors) and Satyam Kumar (Founder & CEO, Loantap). SaveIN had earlier raised funds from Indian and international investors in May this year.
The Fintech Startup is digitizing social and relationship based loan transactions among friends, family and acquaintances.
Jitin Bhasin, Founder & CEO, SaveIN said, “Our vision is to disrupt the way Indians transact and bank. We are committed to introducing innovative products and services in the personal finance domain to simplify an individual’s daily interactions with money. We aim to serve over 5 lac customers in the upcoming 12-month period and are thankful to our investors and partners for backing our vision of creating a truly connected and digital, personal finance ecosystem.”
SaveIN App is available on Google Playstore and Apple App Store. Since its launch, SaveIN app has been downloaded by over 50K users and the platform is now doubling its transactions base month on month.
Narendra Kumar of Enterslice said, “SaveIN has a unique product offering and is addressing a very large market in India. Social loans are the backbone of Indian economy and are growing rapidly especially post Covid. With deep domain expertise, patented solution, well-rounded vision and demonstrated execution capabilities of the founding team, SaveIN has a distinctive advantage. we at Enterslice are delighted to join them early in this exciting journey. Given our expertise in fintech, we also aim to support SaveIN through our network across regulatory, compliance, lending and advisory services as they grow.”
“I am extremely impressed by the vision of SaveIN, aimed at digitizing informal payments and social loan transactions. Having known Jitin for over a decade, and as a fellow fintech founder, I am very excited to partner with team SaveIN in this journey of building a disruptive neo-bank,” said another investor Satyam Kumar.
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