Bangalore based Siply to Double its Head Count in 2022

Siply, a tech-enabled micro-savings platform today announced that the company is looking to double its head count by 2022 and hire across technology, marketing and operations. 
 

Sousthav Chakrabarty, Co-founder & CEO, Siply, says, “Our vision is to be the preferred financial services partner to over 40 crore Indians, who are not yet a part of the formal banking system. To drive this endeavor, we are building a team that will help accelerate action to achieve our vision."

Founded in July 2020 by Sousthav Chakrabarty and Anil Bhat, Siply wants to be the preferred financial services brand to the 40 crore Indians who are not yet a part of the formal banking system. The company is building a platform that is tailor-made to serve the specific needs of this segment, which has so far been largely overlooked by current financial institutions like banks and mutual fund houses.

At present, Siply has over 1.5 million users who collectively have made more than 2 million transactions amounting to total savings of over INR 175 crores. These transactions are mainly via the 37 large partnerships of Siply with brands like Swiggy, Quess, Avenue Growth, Awign, Hesa, Apna, MoneyTap, and Grameen, to name a few. The company also launched a Micro-Credit service in July 2021 and has disbursed more than 50 thousand loans for a total volume of more than 30 crores. Its loan book has grown at 150 per cent m-o-m over the past few months.

Siply recently raised USD 4 million in equity and debt in a Pre-Series A round led by LetsVenture, Founder Room Circle. The round also saw participation from investors like Kunal Shah (Cred), Beerud Sheth (Gupshup), Manish Agarwal (Nazara), Satish Grampurohit (Ex-Infosys), Shanti Mohan (LetsVenture) and Pratekk Agarwaal (angel investor, Ex CBO-BharatPe).