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Simpl bags 40 Mn in Series B round

Fintech platform Simpl has raised $40 million in a Series B round led by Valar Ventures and IA Ventures with participation from LFH Ventures and other internal investors. This investment brings the total capital raised by the company to $83 million.

Launched in 2015, Simpl empowers merchants to own their customer’s checkout experience with platform features such as 1-tap checkout, buy now pay later, buyer protection and instant refunds.

Earlier this year Simpl released two new features: bill box which ensures all utilities are paid automatically and pay-in-3 which allows customers to buy what they want now, and pay for it over three equal payments every month.

The Bengaluru-based platform has grown its monthly active users by 10X over the past 18 months and works with over 7,000 online merchants including Zomato, Makemytrip, BigBasket, Jio Platform,1MG and Crocs.

Simpl competes with ZestMoney which also raised $50 million in its latest round in September.

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