Total amount raised
$5.3 Millions
Latest funding date
06/01/2022
Location
mewt has successfully raised $4.7 million in a Seed funding round, attracting investment from notable firms such as All In Capital, Goodwater Capital, and DG Daiwa Ventures. The platform offers a super app designed to manage all financial aspects for MSMEs in India.
Keep reading to explore the intricacies of mewt's fundraising journey and the investors backing this innovative platform.
What Is mewt?
Mewt, founded in July 2021, is a fintech company based in Bangalore, Karnataka, India. The company was established by Kushal Prakash and Rishabh Jain.
Operating within the apps, banking, financial services, fintech, and software industries, Mewt employs between 11 to 50 people. The platform aims to simplify business banking for MSMEs by unifying accounts from various banks under one account, offering fast transfers and payment acceptance solutions.
How Much Funding Has mewt Raised?
- Pre-Seed Round
- Amount Raised: $577.2K
- Date: October 2021
- Lead Investors: BEENEXT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial development and launch of the platform.
- Seed Round
- Amount Raised: $4.7M
- Date: June 2022
- Lead Investors: Quona Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and launch a debit card for Indian MSMEs.
Total Amount Raised: $5.28M. Current Valuation: Not publicly disclosed.
Key Investors
- Quona Capital
- Details: Quona Capital is a venture capital firm that focuses on fintech investments in emerging markets. They led the seed funding round for mewt.
- Investment Focus Areas: Fintech, financial inclusion, emerging markets
- Notable Investments: ZestMoney, Konfio, Creditas
- BEENEXT
- Details: BEENEXT is a venture capital firm that invests in early-stage technology companies. They participated in both the pre-seed and seed rounds for mewt.
- Investment Focus Areas: Technology, fintech, e-commerce
- Notable Investments: NoBroker, Khatabook, Acko
- DG Daiwa Ventures
- Details: DG Daiwa Ventures is a venture capital firm that invests in innovative startups. They participated in the seed round for mewt.
- Investment Focus Areas: Innovation, technology, startups
- Notable Investments: Not publicly disclosed
- Goodwater Capital
- Details: Goodwater Capital is a venture capital firm that focuses on consumer technology companies. They participated in the seed round for mewt.
- Investment Focus Areas: Consumer technology, fintech, digital health
- Notable Investments: Toss, Stash, Musical.ly
- All In Capital
- Details: All In Capital is a venture capital firm that invests in early-stage startups, particularly in fintech. They participated in the seed round for mewt.
- Investment Focus Areas: Fintech, early-stage startups, technology
- Notable Investments: Not publicly disclosed
What's Next for mewt?
As mewt looks to the future, the opportunities for growth are immense. With plans to expand their user base to a million MSMEs by the end of 2022, the company is poised to make a significant impact in the fintech space. The introduction of a debit card tailored for MSMEs will further solidify their position in the market, offering a comprehensive suite of financial services to small businesses across India.
Given the rapid growth and ambitious targets, future fundraising opportunities seem likely. Additional funding rounds could support the expansion of their team and the development of new financial products. However, mewt will need to navigate challenges such as competition from other fintech companies and traditional banks, as well as ensuring the scalability and reliability of their platform. The company's ability to adapt to regulatory requirements will also be crucial as they continue to grow.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like mewt and gather other critical business insights. Sign up for free and start leveraging these powerful tools today.
