Private Equity Angel Investments
Tap-and-pay transaction enabler Seven gets funding from Malson Ventures founder
Source Seven (opens in a new tab)Yourstory (opens in a new tab)
Mumbai-based fintech startup and contactless wearable payments company Seven has raised a pre-Series A investment from Shivam Malhotra, founder of Malsons Ventures, in lieu of a 1% stake in the company.Founded in 2017 by Vijay Khubchandani, Seven, through its flagship product, 7 Ring enables tap-and-pay transactions without requiring charging, OTPs, PINs, or smartphone apps. The ring integrates with a prepaid wallet on the RuPay network and is powered by UPI.The new funds will be used towards innovation, market penetration, product development, team expansion, and business growth.
In Mar 2025, Seven Ring had attracted about USD 0.45 M from Anchorage Capital Partners and others.For FY24, Seven Ring had reported about INR 0.6 Cr in Operating Income and about INR 0.4 Cr in Net Loss.