Total amount raised
₹123 Millions
Latest funding date
Location
Volt Money has successfully raised significant funding to support its innovative platform, which offers instant loans against mutual funds. The platform's digital process allows users to check eligibility in 15 seconds and receive disbursal within 4 hours.
Keep reading to explore the intricacies of Volt Money's fundraising journey and the investors backing this promising platform.
What Is Volt Money?
Volt Money, a service provided by Salter Technologies Private Limited, was established in 2022. Based in Karnataka, India, the company specializes in offering instant loans against mutual funds, allowing users to leverage their investments as collateral.
While the specific names of the founders are not disclosed, Volt Money has quickly gained traction for its efficient and secure loan disbursal process. The platform is designed to be user-friendly, with eligibility checks taking just 15 seconds and loan disbursals completed within 4 hours.
Although the exact number of employees is not mentioned, Volt Money's rapid growth and innovative approach suggest a dedicated and expanding team. The company aims to provide a seamless, paperless experience for its users, ensuring quick access to funds with minimal hassle.
How Much Funding Has Volt Money Raised?
- Amount Raised: $1.5 million
- Date: June 2023
- Lead Investors: Titan Capital, All In Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build partnerships and hire key personnel for product development.
Total Amount Raised: $1.5 million. Current Valuation: Not publicly disclosed.
Key Investors
- Titan Capital
- Details: Titan Capital is a venture capital firm that has invested in over 200 businesses. They focus on early-stage investments and have a strong presence in the Indian startup ecosystem.
- Investment Focus Areas: Consumer internet, direct-to-consumer brands, SaaS, fintech.
- Notable Investments: Mamaearth, OfBusiness, DealShare.
- All In Capital
- Details: All In Capital is a venture capital firm that co-led the pre-seed funding round for Volt Money. They are known for their strategic investments in promising startups.
- Investment Focus Areas: General venture capital investments.
- Notable Investments: Not publicly disclosed.
- Praveen Jadhav (Raise Ventures)
- Details: Praveen Jadhav is associated with Raise Ventures, a firm that supports early-stage startups. He has a background in fintech and has been involved in various successful ventures.
- Investment Focus Areas: Fintech, technology, startups.
- Notable Investments: Not publicly disclosed.
- Aditi Kothari (DSP Adiko Holdings)
- Details: Aditi Kothari is associated with DSP Adiko Holdings, a firm that focuses on financial services and investments. She has a strong background in wealth management.
- Investment Focus Areas: Financial services, fintech, wealth management.
- Notable Investments: Not publicly disclosed.
- Kunal Shah (Cred)
- Details: Kunal Shah is the founder of Cred, a fintech company that rewards users for paying their credit card bills on time. He is a well-known entrepreneur in the Indian startup ecosystem.
- Investment Focus Areas: Fintech, consumer technology, startups.
- Notable Investments: Not publicly disclosed.
What's Next for Volt Money?
Volt Money stands at the cusp of a significant opportunity, with plans to expand its loan services to more cities and enhance its product offerings through strategic hiring and partnerships. The company has already made a mark by providing loans in over 80 cities, indicating a vast potential for growth.
Future fundraising seems promising, given the successful pre-seed round and the involvement of notable investors. This financial backing could pave the way for additional rounds to support further expansion and development. However, Volt Money may face challenges such as competition from other fintech companies and regulatory hurdles in the financial sector.
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