India’s Fintech start-up Zype has raised Rs. 146 crores in the latest funding round led by Mumbai-based Private Equity Fund Xponentia Capital. The funding round also saw participation from Vivek Vig who has also mentored the startup.
Speaking on the fundraise Yogi Sadana, Founder & CEO of Zype 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. Weare glad to have the backing of Devinjit Singh & P R Srinivasan of Xponentia Capital and, Vivek Vig who have a long record of creating value in financial services.”
PR Srinivasan, Managing Partner of Xponentia Capital said, “We truly look forward to working with Vivek, Yogi &the team of Zype to create inroads in the fintech ecosystem of India. The future of fintech in India looks robust and with the theZype management team’s experience in technology, risk management, finance& payments, we are confident that Zypewill play a key role in the fintech industry.”
Zype will use the funding to build its technology platform, expand its team, and acquire customers. The company is in stealth mode and is likely to launch its product to the masses by early next year. The company was founded in 2022 by Yogi Sadana. Zype will compete with KreditBee, Uni, MoneyTap, and Fibe.
Zype is a credit-first financial app with an aim to improve accessibility to credit for millennials. The app will also users develop sustainable financial habits.
Xponentia Capital is a mid-market private equity firm. Its portfolio includes Spot On, Barbeque Nation, Easy Home Finance, Altigreen, and R for Rabbit.
