Rs 4 crores raised by GroMo, a Fintech Start-up

A Fintech start-up founded by three IIT Delhi graduates has raised Rs 4 crore as its seed funding from the Livespace co-founder Ramakant Sharma and Utsav Somani of AngeListIndia besides other investors.

Arpit Khandelwal, the founder of DezignUp, Ankit Khandelwal and Darpan Khurana both of whom have worked in Snapdeal are the three names behind the launch of this start-up.

This start-up GroMo is aimed at building a network of property dealers, travel agents, CAs and students in small towns who can come forward to sell financial products on social media platforms like Facebook and WhatsApp and earn extra income.

The financial products offered through GroMo’s social platforms will include insurance, loans and investments. Jaipur and Alwar are the places where the pilot of this start-up has been launched and it already has over 500 partners onboard.

The company has plans to use the capital for strengthening its core technology and operational team.