JITO Angel Network invests in jewellery savings platform Plus
- ByStartupStory | January 5, 2023
Plus,an unique savings app-based platform has raised an undisclosed amount led by JITO Angel Network (JAN) led by a group of marquee investors.
Venture Catalyst, WeFounder Circle and a host of high net-worth individuals (HNIs) including the likes of Mr. Abhay Tandon, Mr. Vijay Rajagopal, Mr. Vineet Saxena & many others participated in this funding round along with JITO Angel Network.
Plus is co-founded by serial entrepreneurs Raj Parakh and Virendra Mishra. Currently the company is developing a fintech platform to enable Indian homemakers to grow their savings without taking on any risk. The Platform will help its customers to pre plan their jewellery purchases in advance. The intention is to use the corpus to build the product market fit for the app and strengthen its founding team in order to validate the initial signs of scale. The goal is to achieve GMV/GTV of Rs. 100 crores over the next 8 – 12 months.
Virendra Mishra, Co-Founder, Plus stated “We have the first mover advantage in the jewellery savings segment as the first solution provider that is seeking to digitise the age-old behaviour of saving for jewellery.The app is also aimed at assisting Indian homemakers in their financial independence journey and in entrepreneurial aspirations. We are thankful to JITO Angel Network for placing their trust in our idea.”
Pooja Mehta, Chief Investment Officer, JITO Angel Network stated, ““We are very excited to support Plus in their plan to build India’s first jewellery savings app. It is a one-of-its-kind idea that is bound to find resonance with Indians who traditionally park their excess funds in jewellery items.”
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