Bengaluru-based fintech startup TartanHQ Solutions Pvt. Ltd, on Monday said it has secured pre-Series A funding of $4.5 million (around Rs 35 crore) from a clutch of investors including 500 Global, 9Unicorns, InfoEdge Ventures, AngelList Quant Fund, WorldQuant Ventures and Varanium GenNext Fund, among others.
Founded in 2021 by Pramey Jain and Meet Semlani, Tartan enables businesses to build and deliver financial products with a secured employment data gateway. The company also plans to double its headcount to 110 people, with emphasis on engineering roles, to support the build of innovative financial products like earned wage access and expand into new areas including tax filing.
The platform will use the fresh capital to expand its market operations, scale engineering team and boost product offerings. The latest round brings the company’s total fundraise to $6 million so far, it said in a statement.
“Over the last year, adoption of our product has exceeded our expectations as more businesses are choosing the right tools allowing them to build and launch their products," said Pramey Jain, co-founder and chief executive officer of Tartan.
"Tartan's API unlocks the power of income and employment data, driving the next wave of innovation in the fintech ecosystem," said Christine Tsai, CEO and Founding Partner at 500 Global.
500 Global is a venture capital firm with over $2.7 billion in assets under management (AUM) that invests early in founders building technology companies, as per LinkedIn.
Delhi-based e-commerce platform Combonation has raised $2 million (around Rs 15.6 crore) as a part of its pre-seed funding round led by Coloressence promoter RK Nanda, with participation from other private investors.
The startup plans to deploy the fresh proceeds for expansion and scale technology as well as hiring.
Founded in 2021 by Saurabh Nanda and Pooja Sodhi, Combonation is a platform of multi-brands that offers combo deals at discounted prices. The online store curates products across grocery, household, personal care, and men’s grooming, among others.
The company, backed by the promoters of Coloressence, plans to expand to more than 100 locations in India’s northern pockets.
“Pricing parity is the number one goal for any CEO or management across online and offline platforms, which unfortunately is impossible with different pulls and pressures of online and offline. Combonation alleviates the trade imbalance and promotes peace across online and offline trade platforms with deep discounts without the disclosure of individual prices of a single SKU or brand, thereby keeping both the consumer and trade happy with the air of ambiguity and exciting offers,” said Saurabh Nanda.