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Sequoia, Groww back Nimbbl; Social platform Plutus gets pre-seed cheque

By K. Amoghavarsha

  • 28 Mar 2023
Sequoia, Groww back Nimbbl; Social platform Plutus gets pre-seed cheque
Credit: 123RF.com

Fintech startup Nimbbl and creator-focused social platform Plutus have secured early-stage funding, the companies said.   

Nimbbl raised $3.5 million (Rs 28.7 crore) in funding from Groww, Sequoia Capital India and Global Founders Capital (GFC).    

The round also saw participation from Palo Alto-based angel collective Amara VC along with angel investors such as Kunal Shah of Cred, Amrish Rau of Pine Labs, and Jitendra Gupta of Jupiter.    

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Nimbbl was founded in October 2020 by former Citrus Pay and PayU executives Anurag Pandey and Amit Bansal. It provides a one-click checkout solution on new-age payment methods helping merchants get higher conversions and revenue while reducing costs. The Mumbai-based startup claims to have a merchant base of over 4,000 on its platform.   

Plutus   

Creator-focused social platform Plutus raised $280,000 (Rs 2.3 crore) in a pre-seed funding round from student-focused venture capital firm Campus Fund along with CIIE IIM Ahmedabad, ApnaKlub co-founder Shruti and Alagu Preiyannan of Bluejeans.  

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The startup plans to deploy the funding received towards developing new hyper-casual games and features for its platform and geographical expansion.   

Plutus was founded in 2021 by students Karata Dasmahapatra, Shivanshu Tyagi and Sambhav Jain. It provides a platform with live rooms, group chats, creator-led games, integrated payments and analytics, for creators and their fans to interact. The startup has a pay-as-you-go structure. The startup claims to work with over 3,000 creators across India.   

Meanwhile, Campus Fund is a student focused-VC firm backed by HDFC Bank, IIFL Wealth, Deep Karla (Makemytrip), Phanindra Sama (redBus), and Japanese footballer Keisuke Honda, amongst others.

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