Giverly Raises Pre-Seed Funding to Drive Social Impact and Expansion into the Corporate Sector
- ByStartupStory | May 18, 2023
Giverly, a social-impact and payments platform that is part of IA Impact Labs, has successfully raised a pre-seed funding round. The funding was led by iAngels Network, a prominent investor in the startup ecosystem, affiliated with India Accelerator. IA Impact Labs, a startup ecosystem dedicated to scaling purpose-driven startups in collaboration with United Nations Technology Innovation Labs, played a significant role in supporting Giverly. The funding round attracted participation from experienced angel investors and influential corporate leaders, further highlighting the promising potential of Giverly’s mission.
Giverly, recognized as the Best Accelerator in India at the prestigious National Startup India Awards 2021, has announced its strategic plans to leverage the recently secured funds. The company aims to bolster its technology platform, enhance brand positioning, and further augment its leadership team.
Founded in 2022, Giverly is a pioneering startup that introduces VISA-powered prepaid debit cards in collaboration with Transcorp International Limited. These innovative cards offer users a unique opportunity to contribute to India’s most urgent social issues through cost-free donations. Alongside its philanthropic focus, Giverly provides cardholders with exclusive discounts and offers from a wide range of fashion brands, dining establishments, travel services, and entertainment venues. Recognizing the concerns surrounding the legitimacy of online donation platforms, Giverly aims to dispel doubts by ensuring 100% transparency. Donors can expect real-time updates, photo and video evidence, and comprehensive impact reports that showcase the tangible results of their contributions.
Expressing his joy at the successful fundraising, Sagar Menon, Co-Founder and CEO of Giverly said, "Today we celebrate not just the successful fundraise, but the belief and trust that our investors have placed in our vision. We will use this capital to continue building a company that not only delivers value to our customers and stakeholders, but also creates a positive impact on the world. Thank you to our investors for joining us on this journey of growth and impact”.
Commenting on the investment, Munish Bhatia, Co-Founder, India Accelerator and IA Impact Labs said, “As a company, Giverly has a clear mission to make a positive impact onsociety. The company is empowering individuals and organizations to make a difference inthe world and we are happy to be a part of their journey. We’re excited to support Giverly's vision and look forward to seeing the positive impact it will have on the communities”.
Furthermore, Giverly has ambitious plans to extend its reach to the corporate sector by introducing convenient and incentivizing prepaid cards for employees. This expansion aims to foster a culture of social responsibility within organizations, encouraging them to give back to society. Giverly’s prepaid cards will provide a hassle-free solution for various corporate transactions, including bonuses, rewards, gifts, reimbursements, and even salaries. With the potential to cater to a wide range of corporate needs, this venture opens up a vast and promising user base for Giverly.
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