Bachatt Bags ₹34 Crore Funding from Lightspeed, Info Edge Ventures
In a significant development in the Indian fintech landscape, Bachatt, a fintech startup, has secured a whopping ₹34 crore (approximately $4.5 million) in a seed funding round, co-led by Lightspeed and Info Edge Ventures. This marks an exciting milestone for the company, which is looking to further accelerate its growth and expansion plans.
The funding round saw Lightspeed infuse ₹23 crore, while Info Edge Ventures, led by Sanjeev Bikhchandani, a well-known entrepreneur and investor, contributed $8 crore. The round also saw several notable investors join the startup’s table, including Abhiraj Bhal, co-founder of Urban Company, L&T Finance’s Sunil Prabhune, OYO’s COO Abhinav Sinha, and CSO Maninder Gulati.
Bachatt, which is a financial services platform that offers a range of products and services, including lending, credit cards, and insurance, aims to use the fresh funds to expand its operations, enhance its technology infrastructure, and increase its customer base. With this significant investment, the startup is poised to take its business to the next level, further solidifying its position in the fintech space.
The fintech sector has been growing rapidly in India, with numerous startups emerging to offer innovative financial solutions to consumers and businesses alike. Bachatt, with its comprehensive range of financial products and services, is well-positioned to capitalize on this growth trend.
Founded in 2020, Bachatt has been gaining traction in the market, with a focus on providing easy access to financial services for underserved segments of the population. The startup’s platform is designed to offer a seamless and user-friendly experience, making it easy for customers to access a range of financial products and services from the comfort of their own homes.
The funding round is significant not only for Bachatt but also for the Indian fintech ecosystem as a whole. It highlights the growing interest of investors in fintech startups and the potential for innovation and growth in this space.
In an exclusive conversation with Inc42, an unnamed source close to the development revealed that the funding round was completed at a valuation of approximately ₹200 crore. This valuation is a significant increase from the startup’s previous valuation and demonstrates the confidence investors have in Bachatt’s growth potential.
The funding round is also a testament to the success of Bachatt’s business model, which focuses on providing financial services to underserved segments of the population. The startup’s platform is designed to be user-friendly and accessible, making it easy for customers to access a range of financial products and services.
The involvement of prominent investors such as Abhiraj Bhal, Sunil Prabhune, Abhinav Sinha, and Maninder Gulati is also significant, as it brings a wealth of experience and expertise to the startup. These investors have a proven track record of success in the fintech space and will undoubtedly play a key role in guiding Bachatt’s growth and expansion plans.
In conclusion, Bachatt’s ₹34 crore funding round is a significant milestone for the fintech startup, and it marks an exciting new chapter in its journey. With the support of Lightspeed, Info Edge Ventures, and other prominent investors, Bachatt is well-positioned to achieve its goals and become a major player in the Indian fintech landscape.
