We Founder Circle (WFC) has led the USD 200K worth pre-seed investment round raised by Microfinance.AI, a digital mobile platform for local-language preferred users to avail micro-financial services.
The round also witnessed participation by an array of esteemed investors including – FAAD Network, Gujarat University Start-up and Entrepreneurship Council (GUSEC), Saurabh Aggarwal, Co-founder Fitso, Ankit Prasad Founder & CEO Bobble AI, and 10+ angel investors.
On the Investment Neeraj Tyagi- Co-Founder and CEO, We Founder Circle said “All the financial platforms in some of the other formwork as extended arms of the Indian traditional banking system. With a huge population, the ultimate aim of 100% financial inclusion invites aggressive participation from innovators like Microfinance.AI. In addition to this, the size of the market, the low penetration rate, and the high rate of growth make this industry an attractive investment area. The finer technology used by players like Microfinance.AI, just makes it a more lucrative creation that is going to create a bigger difference in the overall growth of the nation.”
“Consumer behavior is rapidly changing with the advancement of the internet. One size doesn’t fit all, and the same applies to technology. Microfinance.AI primarily focuses on providing a digital platform for availing micro-financial services and empowering local-language preferred users with customized knowledge delivered in bit-size content. We’re building a platform where 500M+ local language people can avail financial services through their mobile and delivered through trusted partners,” said Kapil Patil – Co-Founder, Microfinance.AI
Swati Sinha- Co-Founder, Microfinance.AI affirmed “While working across geographies I have realized that the financial system of the country is not adequate to meet the demands of all the sections of the society. With the fast-growing economy, the financial need is also increasing and the only way to meet this huge scale is by adopting technology. We have been working with the vision to build a tech platform which will promote financial inclusion for all.”
“Coming from a tier 2 & tier 3 city myself & with my personal vast experience in financial services & angel investing, I have realized that those start-ups who are creating a mass product for digital inclusion of Bharat, are going to be sure winners in the long run. Microfinance.AI founders have the unique advantage of the best global education pedigree from premier institutes like LSE and hands-on experience of working with low-income category consumers on the lending side. And so they are well poised to create a large impact company,” Gaurav VK Singhvi, Co-Founder We Founder Circle.
Additionally, the platform offers convenience by allowing users to access the information in their regional language.