Fintech startup POP raises $2.4 Mn led by India Quotient

Fintech startup POP has raised  $2.4 million in seed funding round led by India Quotient and a few prominent angel investors.

The Bengaluru-based startup also announced that it had received approval as a Third-Party Application Provider (TPAP) from the National Payments Corporation of India (NPCI) to offer UPI payments via its POPclub app.

POP also joins prominent players like Google Pay, PhonePe, WhatsApp, CRED, and Paytm as a third-party app authorised to provide UPI payments. It has partnered with financial firms such as Yes Bank and Juspay to build its UPI stack.

The funding will help expedite the implementation of various initiatives, including the POP UPI service that will enable users to earn POPcoins with every UPI transaction made through the app.

Launched in May 2023 by Bhargav Errangi, POP intends to create a network of e-commerce users which constitutes genZ and late millennials on the back of POPcoins. These POPcoins can be used to buy a wide range of products from all major direct-to-consumer (D2C) brands in categories such as beauty, personal care, electronics, fashion, and home goods within the app.

POP has added over 200 brands to its network, including mCaffeine, HUL-owned Simple Skin Care, Adil Qadri, Anveshan, Two Brothers Organic Farms, and Epigamia.