VC Fund Investments
Gamified savings platform Fello raises $4-M from Courtside Ventures, Y Combinator, others
Bengaluru-based gamified savings platform Fello has raised USD 4 million in its latest round led by US-based Courtside Ventures. The round also saw participation from Entrepreneur First, Y Combinator, Kube Venture, and Upsparks, and angel investors Kunal Shah (founder, CRED), Lalit Keshre (co-founder, Groww), Charlie Songhurst, Dafeng, and Alan Rutledge. The startup will use the funds to develop gamified financial products, hire talent, and expand its user base in Tier I and II cities of India. Founded in 2021 by Manish and Shourya Lala, Fello incentivises users through gaming to save and grow their money with returns higher than their traditional savings accounts. The startup had raised USD 1 million in its seed round in November 2021. The firm expects to reach five million users by December 2023. The startup's other investors include Acequia Capital and independent investors Ashneer Grover (Ex-MD BharatPe) and Bala Parthasarathy (Chairman, Freo).
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