NextGen Technology Fund provides seed funding to Mool

• ByStartupStory     |    August 18, 2022

Mool Innovation Labs, which functions as a SAAS Tax Saving & Salary Optimization product, has piqued the interest of investors and received seed funding from the Software Technology Parks of India’s Next Generation Incubation Scheme (NGIS) (STPI). The fund mentioned above is managed by Pontaq Ventures India LLP.

Mool, founded in 2019 by Seemant Shrivastav and Subhashree Mishra, aims to fundamentally alter the way people deal with money, beginning with salary. It uses intelligent algorithms and machine-learning technologies to personalize finance & taxation, as well as to provide smarter investment and borrowing options. Mool intends to use the funds to boost its go-to-market strategic plan, product development, and team expansion.

Mool’s innovation strategy to automation, as well as personalization, has given it a competitive advantage in attracting a large clientele. When asked about the funding, Seemant, co-founder of Mool, stated, “We are grateful to STPI and Pontaq Ventures for believing in our vision to create a world-class fintech platform. Mool has developed technology to simplify tax and financial jargon while also optimizing compensation benefits and providing financial literacy to its customers. Today’s youth is hampered by a lack of understanding of salary structures and requires guidance on saving and investing options. We are deeply committed to resolving this issue and giving users the option to expand their money through effective planning.”

According to Prem Barthasarathy, Managing Partner of Pontaq Ventures India LLP, “Mool has identified a critical issue that employees face today and is attempting to instill financial discipline in recent times by simplifying taxation as well as finance. We like their approach to resolving personal taxation issues and providing their customers with a user-friendly platform to optimize their savings. We are thrilled to be working with Mool on this adventure.”

Mool Innovation Labs is a renowned fintech startup with the mission of leveraging technology for corporate employees by facilitating tax planning, wise investments, insurance, and borrowing options. Mool simplifies and makes accessible personal financial and taxation jargon. Organizations and employees can now easily maximize the value of their salaries thanks to Mool’s products. Mool’s mission is to build a platform that educates everyone, optimizes their money’s growth, and equips them with rich facts as well as proven analysis for decision making.

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