Saturday, October 1, 2022
HomeInsightFunding Alert Mool raises funding from NextGen Technology Fund

[Funding alert] Mool raises funding from NextGen Technology Fund

AI-powered Employee-Centric Payroll System Mool has raised an undisclosed amount in seed funding round from Next Generation Incubation Scheme (NGIS) of Software Technology Parks of India (STPI).
Subhashree Mishra and Seemant Shrivastav, co-founders of Mool

AI-powered Employee-Centric Payroll System Mool has raised an undisclosed amount in seed funding round from Next Generation Incubation Scheme (NGIS) of Software Technology Parks of India (STPI).

The startup plans to use the funds to expand its go-to-market strategy, product development and team.

The Mumbai-based Mool was founded in 2019 by Seemant Shrivastav and Subhashree Mishra, It aims to fundamentally change the way people are treated, from salaries to money. It simplifies personal financial and taxation jargon and makes it accessible to all.

Read also – [Funding alert] Phyllo raises $15 million in funding

Through its products, organizations and employees can now maximize the value of their salaries without any hassle.

The startup employs smart algorithms and machine learning techniques to personalize finance and taxation and offer better investment and lending options.

“We thank STPI & Pontaq Ventures for showing confidence and trusting our vision to build a world-class fintech platform. Mool has built technology to simplify the tax & financial jargon by optimising compensation benefits and also provides financial literacy to its customers. Today, our youth is crippled by limited knowledge of salary structure and needs guidance on saving and investment options. We’re intensely passionate about solving this problem and providing users the option to grow their money through effective planning”, said, Seemant Shrivastav, co-founder at Mool.

The startup’s mission is to create a platform to educate all, optimize their wealth growth and empower them with rich facts and proven analysis to make decisions.

Prem Barthasarathy, Managing Partner, Pontaq Ventures India LLP stated, “Mool has identified a crucial problem being faced by employees today and is trying to build financial discipline for today’s generation by simplifying taxation and finance. We like their approach to solving personal taxation conundrum and giving their customers a user-friendly platform that has an objective to optimize their savings. We are excited to partner with Mool in this journey.”

Read also – [Funding alert] Ecommerce enabler Graas raises $40 mn in funding

About Mool

Their mission at Mool is to make personal finance seamless & accessible for all by facilitating effective tax planning, smart investments, insurance, and borrowing options.

Mool automates salary structuring tailored to the best outcome for each individual, facilitating the maximum transfer of value from Employer to Employee. Mool is an AI-powered system that employs a set of intelligent rules with the goal of maximizing the employee’s benefits from their salary package, tailored by their preferences while remaining compliant with tax rules and regulations.

RELATED ARTICLES
- Advertisment -

Most Popular

- Advertisment -

Also Read

- Advertisment -
Newsletter

Subscribe to our weekly newsletter and don't forget to check out the latest updates.