Qiro Finance, Prosperr.io raise pre-seed funds in bid to expand
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Qiro Finance, Prosperr.io raise pre-seed funds in bid to expand

By K Amoghavarsha

  • 17 Jun 2024
Qiro Finance, Prosperr.io raise pre-seed funds in bid to expand
(L-R): Dev Kumar and Manas Gond, co-founders, Prosperr.io

Fintech startups Qiro Finance and Prosperr.io secured early-stage funding, the companies said on Monday.

Qiro Finance has raised $1.2 million (Rs 10 crore) in a pre-seed funding round led by Alliance, an early-stage web3 accelerator. The round also saw participation from Druid Ventures, Escape Velocity (EV3), Trident Digital and CMT Digital.

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The pre-seed funding will be directed towards product development and ecosystem expansion in preparation for the forthcoming mainnet launch within the current year.

Founded by Akshay Poshatwar and Nishikant Bahalkar, Qiro Finance focuses on building a decentralized credit protocol to connect emerging market asset originators (NBFIs) with global investors by leveraging blockchain and stablecoin rails.

The Singapore-based company is developing a decentralized credit protocol that can facilitate a wide range of tokenized Real World Assets (RWA)-backed credit applications. This is achieved by unifying asset originators, investors and credit underwriters within a single framework.

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Prosperr.io has raised $1.55 million (Rs 12.5 crore) in a pre-seed funding round. The round was led by Gokul Rajaram, a board member at Pinterest and Coinbase. The round also saw participation from angel investors including Vinodh Bhat (JioSaavn), Ramakant Sharma and Saurabh Jain (Livspace), and Kunal Shah (QED Ventures), among others.

Founded in March 2022 by Manas Gond and Dev Kumar, Prosperr.io offers a subscription-based service designed to manage income taxes for salaried individuals, thereby ensuring eligible tax savings and compliance.

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It offers two products, one that helps individuals plan and save their taxes efficiently, and another that enables employers (B2B product) to provide non-taxable allowances.

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