MoneyPlanned raises Rs 2.5 Cr in seed round

Fintech startup MoneyPlanned has raised over Rs 2.5 crore in its seed round led by Inflection Point Ventures. Expert Dojo, Joseph R Saviano, Sameer Khan along with a clutch of other angel investors have also joined the round . 

The proceeds will be used towards marketing, user acquisition, improving tech infrastructure and hiring, the company said in a press release.

Founded in July 2020 by Sameer Shashank Gattupalli and Nikhila Putcha, MoneyPlanned lets users set and achieve financial goals. The startup claims to have helped users track goals worth Rs 6,500 crore. Besides providing an integrated financial view, it also helps facilitate investments, loans, insurance, and tax planning. MoneyPlanned currently has over 35K monthly active users. The company competes with various companies such as IndMoney, UpWealth, MintWalk among others.

Inflection Point Ventures has recently invested in VsnaU, SanchiConnect, Bored Beverages, Winuall, Webnyay, and The Health Company.

Investment in seed and pre-seed stage startups have picked up pace in the past few months. Out of 119 deals in August, 45 startups raised funds in seed and pre-seed round, as per Fintrackr’s data. In the ongoing month, more than 30 startups have announced their  seed rounds.