Reward based savings app SayF raises pre-seed round

Rewards based savings app SayF has raised $240k pre-seed round funding led by Titan Capital, Sunn91 Ventures and other angel investors. 

The company plans to utilise the funds for its initial team building, product refinement, and early product experimentation, SayF said in a press release.

Founded in 2021 by Aman Singh and Priyesh Gandhi, SayF is a savings and investing app that helps users save, invest and optimise their spending for a better future. It helps Indians earn and invest money on everyday expenses. Instead of directly paying through a UPI app, users spend through the SayF app to earn up to 25% cashback in the form of investment in digital gold.

According to SayF, users spend, earn and invest all in a single transaction at over 300 brands stores ranging from Swiggy, Uber to Reliance smart.

The firm says that savings with SayF are 7x higher in comparison to other existing savings apps. More than 50k SayF users, and 76% came via referrals. It also claims that the platform has processed more than Rs 7,50,00,000 transactions and helped users invest about Rs 40,00,000 over the last four months.

It competes with the likes of Mint, Wizely, Mvelopes, Crown It, Dibz, Encash, mTrakr et al.