[Funding alert] Galgal Raises $1 Mn in Seed Funding

A fintech startup in Mumbai named Galgal Money has secured $1 million from angel investors. The firm was able to launch the app quickly and increase customer acquisition due to the funding.

Additionally, the business plans to invest in product development to quickly improve customer experience and concentrate on providing features that can improve the neo-banking experience for Indian young, as per reported by Entrepreneur.com.

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"With stipulated pocket money and plethora of potential expenses we young adults end up getting frustrated when we see a massive difference between what we want to save and can actually achieve. This led me to want to build a feel good solution that will change banking for the youth in India, and simplify money management for all. Inspired by the Indian lemon, Galgal's mission is to help users 'squeeze the most out of their money'," said Harsh Chhatrapati, founder, Galgal.

Galgal Money is a cutting-edge Mumbai-based fintech firm that focuses on offering effective financial solutions to the youth with the goal of making financial planning. Galgal Money was founded in 2021 by Harsh Chhatrapati and Arun Iyer.

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Galgal, unlike the majority of the other market participants, provides a desirable Visa prepaid card without a credit fee or any other extra fees. Through its website, the business created a queue of more than 5,000 people just for the beta version of the product. The corporation said in the statement that the app is now live and accessible on both Apple and Android devices.