Multipl, a cutting-edge fintech platform, has successfully raised $1.5 million (Rs 12 crore) in an extended seed round, co-led by Blume Ventures and MIXI Global Investments, Inc. This follows a previous funding round in May 2022, where the startup secured $3 million from Blume Ventures, GrowX Ventures, IIFL, and Kotak Securities Limited.
The new funds will be used to enhance the platform and introduce innovative features, aiming to help more Indians start their spend vesting journeys. Founded in 2020 by Paddy Raghavan, Jags Raghavan, and Vikas Jain, Multipl is a modern fintech platform that offers investment opportunities in mutual funds. The platform partners with brands, allowing consumers to invest in mutual funds for their lifestyle expenditures.
Multipl boasts 500,000 downloads, over 100 valuable brand partnerships, and facilitated goals worth more than Rs 1,000 crore. The Bengaluru-based company recently launched ‘Open Goals,’ enabling users to invest in future expenses through partnerships with leading brands. Additionally, the platform’s window shopper widget enhances consumer savings by integrating financial planning options at the point of purchase on merchant websites and apps.
In the competitive landscape of fintech, Multipl stands alongside major players such as Groww, AngelOne, and PhonePe. With its innovative approach and strategic partnerships, Multipl aims to revolutionize the way consumers invest in mutual funds for their lifestyle needs.
