Fintech startup Tortoise has raised $2.3 million in a seed funding spherical led by Vertex Ventures, a wholly-owned subsidiary of Temasek Holdings.
Better Capital, Cloud Capital, and different operators like Kunal Shah, founding father of Cred; Neeraj Arora, former chief enterprise officer of Whatsapp; Ankur Nagpal, founding father of edtech agency Teachable; and Ganesh Rengaswamy, cofounder of Quona Capital additionally participated in the funding round.
This is Tortoise’s second round of funding in the final 12 months. The startup has raised a complete of $3 million so far.
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The startup plans to associate with extra manufacturers and retailers to supply wider choices for purchasers to save lots of up and make ‘save now, buy later’ a viable possibility for higher returns as an alternative to the ‘buy now, pay later’ mannequin, the corporate mentioned in a ready assertion on Monday.
Founded in 2021 by Vardhan Koshal and Surya Harsha Nunnaguppala, Tortoise permits customers to save lots of up for giant purchases. Tortoise gives weekly and month-to-month financial savings plans starting from just a few months to a yr. Users could make little deposits over a number of weeks or months after which reap the advantages unexpectedly.
The adoption and use of product choices of Tortoise are fast-growing in the worldwide market, however, the trade-in India remains to be in its early phases.