Indian Economy News

Fintech startup Galgal raises US$ 1 million in seed funding

  • IBEF
  • November 25, 2022

Galgal Money, a fintech startup, has received US$ 1 million in seed funding from angel investors. The firm was able to launch the app quickly and increase customer acquisition thanks to the funding. The company further plans to invest in product development to quickly improve customer experience and concentrate on providing features that can improve the neo-banking experience for Indian youth.

Galgal Money is a cutting-edge Mumbai-based fintech start-up that focuses on bringing effective banking solutions to the youth in order to make money management and saving as stress-free as possible. Galgal Money was founded in 2021 by Mr. Harsh Chhatrapati and Mr. Arun Iyer.

The Galgal app is designed to alert users when they overspend or underspend using its AI algorithm. This is founded on the knowledge that effective money management habits form, like any habit, as a result of rewards and penalties. In order to be more careful the next time they want to spend, the user has the choice to feel good or bad about an expense.

Galgal, unlike the majority of the other market participants, provides a desirable Visa prepaid card without a credit fee or any other extra fees. Through its website, the business created a queue of more than 5,000 people just for the beta version of the product. The software is now online and accessible on both Apple and Android-powered gadgets.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.