Siply, a micro-savings platform, has raised $3.2 million in its pre-Series A round led by LetsVenture, AngelList India and Founder Room Circle.
Kunal Shah, Beerud Sheth, Satish Grampurohit, Shanti Mohan and Pratekk Agarwal have also joined the round.
According to Siply, the fresh capital will be used to expand its presence to over 400 towns and to strengthen its tech and team.
Founded by Sousthav Chakrabarty, Siply is a tech-enabled micro-savings app, that makes it possible to save as low as 1 rupee to democratize savings and make India financially independent.
In 14 months, Siply claimed to have attained over 15 lakh users who have collectively done 20 lakh transactions amounting to total savings of Rs 150 crore.