Fintech startup Tortoise has raised $2.3 million in a seed funding spherical led by Vertex Ventures, a wholly-owned subsidiary of Temasek Holdings.
This is Tortoise’s second spherical of funding in the final 12 months. The startup has raised a complete of $3 million so far.
Better Capital, Cloud Capital, and different operators like Kunal Shah, founding father of Cred; Neeraj Arora, former chief enterprise officer of Whatsapp; Ankur Nagpal, founding father of edtech agency Teachable; and Ganesh Rengaswamy, cofounder of Quona Capital additionally participated in the spherical.
The startup plans to associate with extra manufacturers and retailers to supply wider choices for purchasers to save lots of up and make ‘save now, buy later’ a viable possibility for higher returns as an alternative of the ‘buy now, pay later’ mannequin, the corporate mentioned in a ready assertion on Monday.
Tortoise was based in 2021 by Vardhan Koshal and Surya Harsha Nunnaguppala.
The fintech agency permits customers to save lots of up for giant purchases. Tortoise gives weekly and month-to-month financial savings plans starting from just a few months to a yr. Users could make little deposits over a number of weeks or months after which reap the advantages unexpectedly.
The adoption and use of product choices of Tortoise are fast-growing in the worldwide market, however the trade in India remains to be in its early phases.
Categories: Venture Capital