Jewellery Savings App Plus Raises $350K in Seed Funding for Expansion and Operations
- ByStartupStory | August 17, 2023
Jewellery savings app, Plus, has secured $350K in its seed funding round, which was co-led by EvolveX, the startup accelerator led by We Founder Circle, alongside VCats and other angel investors. The funding round also saw the participation of JITO, Vineet Saxena, Abhishek Gupta, Sunil Singhvi, Vijay Rajagopal, Abhay Tandon, Shiva Mohandas, Sachin Shetty, and others.
The raised capital will be directed towards expanding operations and enhancing the overall functioning of Plus, as stated in their press release.
Founded in 2022 by Veer Mishra and Raj Parakh, Plus offers a unique platform that aids customers in saving for their desired jewelry purchases by directly saving with partnered jewelers, benefiting from discounts of up to 20%. This innovative savings platform is designed to empower India’s homemakers to save for their jewelry needs while also earning a competitive annual interest of 10%.
Based in Bengaluru, Plus has been actively establishing partnerships with jewelers as it prepares for its B2C launch. The startup is currently in the User Acceptance Testing (UAT) phase and has successfully onboarded over 270 jewelers as partners.
The EvolveX startup accelerator program, which is spearheaded by We Founder Circle, offers upfront funding ranging from $20K to $200K worth of credits to startups. The program provides ongoing opportunities for startups to join, and applications are accepted on a continuous basis.
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