VC Fund Investments
Fintech startup Akudo raises $4.2-M from Y Combinator, JAFCO Asia, others
Bengaluru-based Akudo, a learning-focused neobank for teenagers, has raised USD 4.2 million in a seed round led by Y Combinator, JAFCO Asia, Incubate Fund India, and AET Fund. The round also saw participation from Tribe Capital, Cabra Capital, and angel investors including Lalit Keshre (Co-founder Groww), Rohit Taneja (Co-Founder Decentro), Anup Singh (Ex Axis Bank, ICICI Bank), Romeen Sheth (Metasys), Sriram Krishnan (Ex Spotify, Tinder), Mohit Daga and more. Akudo provides personalised prepaid Visa cards to teens and promotes a financial first learning environment through features like - auto-save and other features for building a habit of saving. The start-up has also issued 25,000 + cards delivered across 360+ cities across India. The startup aims to utilise the funds to expand its team and refine its product offering to reach millions of teenagers in India. Currently, the startup has over 1 lakh registered customers and has recorded a 75% week-on-week growth in transaction volumes.
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