Bengaluru-based neobank Walrus on Wednesday said it has raised an undisclosed amount in a pre-seed funding round led by Better Capital, an early backer of neobanks in India that has also invested in Open, Khatabook, Jupiter, Yelo, and Slice.
The round also saw the participation of angel investors, including Raveen Sastry (Co-founder, Myntra), Raghunandan G (Ex-Founder and CEO of TaxiForSure), and Brijesh Thakkar among others, it said in a statement.
The startup said it plans to utilise the funding to expand its team and enhance product features.
Founded in 2019 by Bhagaban Behera, Sriharsha Setty (CTO), and Nakul Kelkar (COO), Walrus is a digital-only banking platform for teenagers aged 13 and upwards. Its services can, however, be used by anyone up to the age of 22. The platform claims to provide them a secure and ‘Gen Z-like’ banking solution that helps them to manage their money smartly.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India between July 12 and July 15, 2020.
|Startup||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|Walrus||-||Pre-Seed||Better Capital||Raveen Sastry, Raghunandan G, Brijesh Thakkar||Financial Services||Digibank|
|PumPumPum||292,800||Seed||Fastfox.com, co-founder, Pallav Pandey||Ritesh Malik, Shobhit Shukla, Rahul Agarwal||Automobiles Other Vehicles & Parts||Ridesharing /Transport|
|Procol||3.8 million||Seed||Sequoia Capital' Surge||Beenext, Blume Ventures||Software||Agtech|
|Yumlane||1 million||Pre-Series A||Jetty Ventures||-||Food||Foodtech|
|GigIndia||970,744||Pre-Series A||Incubate Fund India||Beyond Next Ventures, S Ramadorai, Kiran Deshpande, Ravi Nigam, Shashank Deshpande, Sakshi Gudwani, Dr Pratap, Shantanu Deshpande||Internet||HR tech|
|goDutch||1.7 million||Seed||Matrix Partners India||Y Combinator, Global Founders Capital, Soma Capital, VentureSouq, Justin Mateen, Kevin Lin, Rohan Angrish, Sumon Sadhu||Financial Services||Fintech|
|IncNut Digital||4 million||Series A||RPSG Ventures||-||Internet||Digital Media|
|Mystifly||3.3 million||Pre-Series B||Recruit Holdings Co. Ltd.||-||Internet||Travel-tech|
|FLYX||200,000||Pre-Seed||Raj Mishra, Chairman and Founder, AIT Global Inc.||-||Media||Social Media|
|Plum Benefits||927,994||Seed||Incubate Fund||Gemba Capital, Tracxn Labs, Abhijit Gupta, Ram Sahasranam, Sudheendra Chilappagari, Nitin Jayakrishnan, Alvin Tse||Insurance||Insurtech|
|Magicpin||3 million||Series C||Samsung Venture Investment Corporation||-||Internet||E-commerce|
|ParkSmart||199,468||ah! Ventures||Marwari Angels||Information Service||Internet of Things|
|Openapp||500,000||-||Unicorn India Ventures||-||IT Security/Cybersecurity||Internet of Things|