SuperMoney raises Rs 7 crore from Unitus Ventures

Our Bureau Chennai | Updated on February 06, 2020 Published on February 06, 2020

Mumbai-based SuperMoney, a fintech platform that caters to the gig economy and blue-collar workers, has raised Rs 7 crore in funding from early-stage impact investor Unitus Ventures.

It will use the money to strengthen the team across technology, business development and back-end operations. It will also use the funds to expand operations beyond the 12 cities it is present in, according to a release.

Founded by private equity and risk management professionals Shiv Nandan Negi and Nikhil Banerjee, SuperMoney began operations in January 2018. The company offers a suite of financial products focussed on customised credit, savings and insurance solutions to the gig economy and blue-collar workers. Its customers include cab drivers, delivery personnel and shop floor workers.

With three lakh customer registrations on the platform, SuperMoney, according to the release, has facilitated disbursement of over 55,000 loans. The start-up partners with leading tech and gig economy platforms such as Uber, Swiggy, Shuttl, Udaan and MedPlus. It offers loans with an average ticket size of Rs 10,000 for 2-3 months. It aims to service one million customers in the next two years.

Published on February 06, 2020
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