New Delhi, 16 August 2021- We Founder Circle (WFC) – a start-up investment platform, in continuation to its mission to fund early-stage start-ups, has invested in YPay, an innovative financial solution provider for youth and corporates.
YPAY, through its prepaid cards available on its app, makes it convenient for teenagers to make both online and offline payments. YPAY app enables kids to learn money management and earn points along with attractive cashback and discounts from 300+ brands.
The bridge round worth USD 400K from WFC saw participation from marquee investors including Amit Tyagi, Gaurav Juneja, Ravi Gupta - Founder, Safexpay, and a senior CXO, Pragatii Bhargava.
Fintech industry in India that is growing at CAGR of 20 percent is already valued at more than $31 Bn. With an ambition to own a large portion of the entire fintech pie, YPAY aims to provide diversified bouquet of product and services to the Indian youth and professionals. “Payments is a thick slice of the entire fintech pie, and has great potential of creativity and convenience. We plan to unleash this potential. YPay card has already facilitated over 50,000 transactions in a short span of time. We are overwhelmed with the response received so far and aim to serve a larger customer base of 600,000 individuals by the end of this fiscal year,” claims Dr. Navneet Gupta- Founder & CEO, YPay.
With the additional round of fund, YPAY plans to robustly acquire talent as the brand moves towards its next milestone. A part of the fund will also be utilised for technology development and fuel further growth.
On Investing in YPay, Mr. Neeraj Tyagi- Co-Founder and CEO, We Founder Circle affirmed, “Indian youth and teens, especially in Tier 2 and Tier 3 cities, have increased their appetite for digital mode of payments. YPAY smart solutions taps this quintessential aspiration of the young Bharat and their need to adopt digital payment solution. Their product positioning as #BharatkaSmartCard that caught attention of consumers and investor community led WFC to invest in them repeatedly.”
Established in 2020 in Mumbai, We Founder Circle is a global community of successful founders & strategic angels that have come together to push the startup industry and steer it towards aggressive growth. It invests USD 50K- USD 150K amount in early-stage startups that are fueled with ambition, sustainability and strategic approach. WFC provides seed funding, business development and global networking opportunities to start-ups as it believes early-stage start-ups need a lot beyond just financial support to become scalable and stable.
*Disclamier: "The pages slugged ‘Press Release’ are equivalent to advertisements and are not written and produced by Indianinsights Media journalists/Editorial." We do not hold any copyrights towards the content or image. Image source: Newswire