How Much Did Simpl Raise? Funding & Key Investors

Simpl has successfully raised funds over 6 rounds, with the latest being a Series B round involving investors like IA Ventures and Valar Ventures. The platform offers a cardless payment network with solutions such as "Pay Later," "Pay in 3," and "Billbox" for managing recurring bills.

Keep reading to explore the intricacies of Simpl's fundraising journey and the investors backing this innovative platform.

What Is Simpl?

Simpl is a fintech company based in Bangalore, Karnataka, India, offering a cardless payment network with solutions like "Pay Later," "Pay in 3," and "Billbox." The company operates in various industries, including E-Commerce, Financial Services, Fraud Detection, Lending, Mobile Payments, Payments, and Transaction Processing.

Founded by One Sigma Technologies Private Ltd, Simpl has grown to employ between 501 and 1000 people. The platform is trusted by over 10 million shoppers and is known for its seamless checkout experience, benefiting both consumers and merchants.

How Much Funding Has Simpl Raised?

1. Seed Round
   • Amount Raised: USD 2,500,000
   • Date: November 2016
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop and launch the initial version of the Simpl platform.
2. Series A
   • Amount Raised: USD 10,200,000
   • Date: August 2017
   • Lead Investors: Green Visor Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the platform's features and grow the user base.
3. Series Unknown
   • Amount Raised: USD 19,000,000
   • Date: December 2018
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
4. Convertible Note
   • Amount Raised: Not publicly disclosed
   • Date: November 2020
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To provide additional working capital for growth.
5. Debt Financing
   • Amount Raised: Not publicly disclosed
   • Date: May 2021
   • Lead Investors: Franklin Templeton
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support ongoing operations and expansion efforts.
6. Series B
   • Amount Raised: USD 40,000,000
   • Date: November 2021
   • Lead Investors: IA Ventures, Valar Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance the platform, expand features, and grow the merchant and user base.

Total Amount Raised: USD 71,700,000. Current Valuation: Not publicly disclosed.

Key Investors

• IA Ventures
  • Details: IA Ventures is a venture capital firm that specializes in early-stage investments in data-centric companies. They aim to support startups that leverage data to create competitive advantages.
  • Investment Focus Areas: Fintech, data science, machine learning.
  • Notable Investments: Datadog, The Trade Desk, TransferWise.
• Valar Ventures
  • Details: Valar Ventures is a venture capital firm that focuses on early-stage technology companies. They are known for investing in startups that have the potential to disrupt traditional industries.
  • Investment Focus Areas: Fintech, consumer internet, software companies.
  • Notable Investments: TransferWise, N26, Xero.
• Franklin Templeton
  • Details: Franklin Templeton is a global investment management firm with a diverse portfolio. They provide investment solutions to clients in over 165 countries.
  • Investment Focus Areas: Technology, healthcare, financial services.
  • Notable Investments: Not publicly disclosed.
• Green Visor Capital
  • Details: Green Visor Capital is a venture capital firm that invests in fintech companies. They focus on startups that are innovating in the financial technology space.
  • Investment Focus Areas: Fintech.
  • Notable Investments: Not publicly disclosed.
• LFH Ventures
  • Details: LFH Ventures is a venture capital firm that recently invested in Simpl. They are relatively new compared to other investors in this list.
  • Investment Focus Areas: Not specified.
  • Notable Investments: Not publicly disclosed.

What's Next for Simpl?

Simpl stands at the cusp of significant growth opportunities, driven by the increasing adoption of digital payments in India. With features like "1-Tap Checkout," "Buy Now Pay Later," and "Bill Box," Simpl is well-positioned to capture a larger share of the e-commerce market. The platform's ability to aggregate purchases and offer flexible payment options makes it attractive to both consumers and merchants.

Given the rapid growth in its user and merchant base, Simpl is likely to attract further investment to support its expansion. The fintech company has already raised substantial funds, and the burgeoning market potential suggests more fundraising rounds could be on the horizon. However, Simpl will need to navigate challenges such as competition from other fintech platforms and ensuring the security and reliability of its payment network.

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