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LetsVenture In The News(20-26 Dec)

Dhurina, Siply, Minko & More

Edtech, Fintech & more.

From tackling competitive exams to enabling Indians to save more, here are the newsmakers from LetsVenture. 

Dhurina Rakes In $ 1.2 Million Led by RVCF, LetsVenture

Edtech platform, Dhurina, has concluded its second round of funding and has raised $ 1.2 million led by RVCF and other investors like LetsVenture, RBD Publication, India Accelerator, Precision Startup Advisory, and Pai Ventures.

The freshly infused funds will be deployed towards technological enhancements, aggressive business growth, expansion in the company size, and improving the product’s functionality for students.

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Bangalore based Siply to double its headcount in 2022

Siply, a tech-enabled micro-savings platform today announced that the company is looking to double its headcount by 2022 and hire across technology, marketing and operations.

Sousthav Chakrabarty, Co-founder & CEO, Siply, says, “Our vision is to be the preferred financial services partner to over 40 crore Indians, who are not yet a part of the formal banking system. To drive this endeavour, we are building a team that will help accelerate action to achieve our vision.”

Founded in July 2020 by Sousthav Chakrabarty and Anil Bhat, Siply wants to be the preferred financial services brand to the 40 crore Indians who are not yet a part of the formal banking system. The company is building a platform that is tailor-made to serve the specific needs of this segment, which has so far been largely overlooked by current financial institutions like banks and mutual fund houses.

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Minko raises $1.5 million seed funding

Minko, a retail fintech platform that provides credit facilities to small kirana and retail shop owners, has raised $1.5 million in a seed funding round led by LC Nueva AIF, an India-domiciled category II alternative investment fund, and LetsVenture.

Apart from Minko Credit, the platform added three new products within the last six months — Minko Invoices, Minko QR Code, and Minko Gold. With the digital B2B invoice payment stack embedded with credit, the company aims to move online a large segment of the multibillion-dollar ‘retailer-to-distributor’ payments, which mainly happens via cash and cheque.

The company plans to utilise the raised capital to hire more talent, especially in its tech and sales teams, and expand across India.

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