Fello raises $1M in seed funding
Investment startup Fello recently raised $1 million in seed funding led by Entrepreneur First. The round also saw participation from Acequia Capital, Kube VC, Upsparks, JITO Angels, Dexter Angels, along with independent investors Ashneer Groover (BharatPe), Bala Parthasarathy (MoneyTap), Faiz Mayalakkara (Emirates Investment Authority), and Charlie Songhurst.
The company plans on using the funds to acquire talent, and scale and enhance its product offerings.
“India boasts of over 400 million mobile gamers, yet only 2% of the total population are active investors. Fello, a product built at the intersection of gaming and finance, brings an unprecedented scope for disruption,” said the company’s founders in a joint statement.
Founded in 2021 by Manish Maryada and Shourya Lala, the company claims to be a game-based savings and investment platform.
“While an overwhelming majority of our early users were first-time investors, 60% have gone on to reinvest. Moreover, 94% of the user base was acquired through simple organic referrals. These figures show strong early momentum and validation that making finance fun can motivate an entirely new generation to start building healthier financial profiles,” the founders later added.
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