Fintech platform for solopreneurs and creators MoneyyApp raises funding from AngelList’s early stage Quant Fund
MoneyyApp, a Fintech platform empowering small businesses, digital native solopreneurs and creators in India, has raised an undisclosed amount in pre-seed round from AngelList Early Stage Quant Fund.
MoneyApp would use the funds to expand the business, increase product development and create awareness around the app to bring more creators and solopreneurs into the network.
The startup has raised an angel round in June backed by GSF founder Rajesh Sawhney, IndiaMart founder Dinesh Agarwal, Nazara Technologies’ founder Nitesh Mittersain, BharatMatrimony founder Murugavel, along with Roshan Abbas and Guarav Kapur, Arvinder Singh Gujral also from Twitter APAC participated .
“With AngelList’s Early Stage Quant Fund at our capability, we look forward to using their expertise and track record in identifying gaps in the market that can be served by innovation. We will come up with innovative products and services and tools for digital natives and solopreneurs which can help them manage and grow their businesses, said Fayyaz Hussain, Co-Founder and CEO of MoneyApp.
Founded in early 2022 by serial entrepreneurs Fayyaz, Mohit Goyal and Aaditya Goyal, MoneyyApp provides creators in India with financial and business growth tools and alternative funding helps them scale faster and efficiently.
According to industry reports, there are over 100 million creators and another 63.4 million MSMEs in India currently. However, over 80% have no technical knowledge or financial tools to scale their products and services.
The Bengaluru and Singapore-based startup helps creators by providing tools to improve how they run their business. They also help remove the income disparities that often exist among creators working in similar genres, categories and verticals.
MoneyyApp’s target audience is the approximately 100 million digital native solopreneurs/creators who currently create content for various social media platforms such as YouTube, Instagram and digital gigs such as Upwork. MoneyyApp has so far onboarded around 1,6000 creators and is targeting 10x growth.
“We are enthusiastic investors in MoneyyApp. We believe that great people build great companies, and we know from our proprietary data that MoneyyApp is one of the most attractive startups in the world for talented job seekers,” says Abraham Othman, PhD at AngelList’s Early Stage Quant Fund.
ABOUT MONEY APP
MoneyyApp empowers emerging MSME/Digital Native Solopreneurs/Creators by creating fintech infrastructure by providing financial management tools, alternative finance and growth tools to improve and grow their business in India, South East Asia and MENA region. MoneyyApp is powered by serial entrepreneurs who have worked for Paytm, Naspers, Yahoo!, Times Internet and other marquee organizations at the intersection of finance and content.
ABOUT ANGELIST EARLY STAGE QUANTITATIVE FUND
AngelList Early Stage Quant Fund is an early stage venture capital fund managed by AngelList. The fund is located in San Francisco, California. The fund invests in artificial intelligence, big data and information technology and financial sectors.
