[Funding alert] Fintech Startup Fundly.ai Secures $3 mn Seed Funding led by Accel

Fundly.ai, a finance firm based in Mumbai, has raised $3 million in a round of seed funding backed by Accel. Multiply Ventures and other angel investors participated in the round as additional investors.

Fundly.ai intends to increase contact with current clients, expand into new areas, develop technology, and work on fresher product lines, as per reported by The Economic Times.

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“With this new funding, we are excited to expand our reach and explore untapped markets, bringing our vision of a more efficient and effective pharma supply chain to an even larger demographic,” Chawla said.

The pharmaceutical supply chain startup that assists distributors and retailers also provides them with the financial tools they need to manage better cash flows and boost their margins. According to Fundly.ai CEO Amit Chawla, the firm wants to concentrate on expanding its current markets, which are in southern and western India.

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With a mission to equip millions of small merchants and distributors in India for the future, Fundly was launched.

With financial serving as an entry point, Fundly.ai plans to bring product innovations to retailers, distributors and other stakeholders together, Amit and Shree bring a wealth of experience from their deep lending background. Leveraging this experience, they have been able to identify the gaps and opportunities that exist in the pharma supply chain,” Accel investor Sarthak Singh added.

founded by Amit Kumar Chawla and Shreeram Ramanathan with the intention of acting as development catalysts and having a significant influence on India's healthcare system. In India, Fundly.ai has nine locations and has operated on its own since 2021.

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About Fundly.ai

Fundly is a Mumbai-based fintech platform that was established in 2021 and is the first of its type in the nation. They want to create a one-stop platform that benefits brands, specialist players, and the pharma distribution tail by fusing supply chain and MSME finance.

They provide local communities and owners of small businesses with easily accessible and cost-effective financial solutions. They give them access to tech-driven financing and related solutions to lower operational friction, manage cash flow better, and significantly boost profitability. Since its beginning, they have lent more than Rs. 110 Cr. across 8 cities to more than 2000 MSMEs.

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