Money & Banking

SuperMoney raises ₹7 cr from Unitus Ventures

Our Bureau Chennai | Updated on February 07, 2020 Published on February 07, 2020

Mumbai-based SuperMoney, a fintech platform that caters to the gig economy and blue-collar workers, has raised ₹7 crore 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. Its customers include cab drivers, delivery personnel and shopfloor 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 ₹10,000 for 2-3 months. It aims to service one million customers in the next two years.

Published on February 07, 2020
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