Xponentia Capital leads Fintech Startup Zype’s $18 million Funding
- ByStartupStory | December 14, 2022
Fintech startup Zype that is presently working in stealth mode, has recently raised INR 146cr in a funding round led by the mumbai based private equity firm Xponentia Capital, mentored by industry veteran Vivek Vig.
With the fresh funding, Zype plans to build its technology platform, expand the team and acquire more customers and finally launch in the upcoming year. Talking about Zype, which is a credit-first financial well-being and lifestyle app, helps users to get instant credit. It works in the areas of improving credit accessibility for millennials and help them develop sustainable financial habits.
Yogi Sadana, founder and 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,” Sadana added that the platform’s intuitive money management tools can help credit users manage their spending, receive bill reminders and make timely payments through the app.zy
P.R. Srinivasan, managing partner of Xponentia Capital said, ““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,”
According to a report by researchandmarkets.com, the global fintech market is expected to see an annualized growth rate of 19.71% during 2021-2027. The report valued the market at $131.14 billion in 2021, and expects it to reach $385.93 billion by 2027.
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