Fintech Startup Zype has raised Rs.146 Crore. The funding was led by Mumbai-based Private Equity fund Xponentia Capital. Zype is mentored by industry veteran Vivek Vig.
Zype focus is to augment accessibility to credit for millennials and help them develop sustainable financial habits. In a statement, Zype said it plans to deploy the funds for building its technology platform, expanding the team, and customer acquisition.
“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,” stated Vivek Vig, mentor and board member.
The startup’s management team is led by Yogi Sadana, Founder and CEO of Zype, who has held several leadership positions with Indian and multinational organisations in the past.
Startup Zype focus is to create a value platform in financial services
- With the fresh capital infusion, Zype aims to build its technology platform, increase the talent power and acquire more customers.
- Zype helps users to get instant credit. It targets in the areas of improving credit accessibility for millennials
- Overall, fintech startups in India raised a total of $815 Mn in Q3 2022
Speaking on the fund raise Yogi Sadana said, “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. We are glad to have the backing of Devinjit Singh and PR Srinivasan of Xponentia Capital, and Vivek Vig, who has a long record of creating value in financial services.”
“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,” added PR Srinivasan, Managing Partner, Xponentia Capital.