Introduction:
Simpl is an internet-based marketplace for buying financial services. Users are able to buy things via the Internet and repay with individualised recurring amounts. Users receive credit limitations from the business depending on their experience with the seller, their habits of spending, and their track record of prompt payback.
Along with that, it provides an app-based system for keeping tabs on account usage, future settlements, and transactions. Simpl mobile application is accessible on both the iOS and Android operating systems.
It gives both customers and businesses greater authority over their online shopping experiences. the company is developing cutting-edge business systems based on the principles of honesty, openness, and financial principles.
Simpl About:
Simpl is a business that creates smartphone apps that let customers make purchases and make repayments via credit-based payment techniques. Its offering is a form of payment that enables customers to avoid making recurring payments.
Simple is the creator of an electronic payment system that helps consumers prevent repeated transactions by automating the process. Individuals, as well as businesses, may conduct financial deals and interactions with ease because of the business’s structure.
It employs analytics and financial technology and provides a singular invoice for any purchases spanning several partnership vendors and suppliers of services.
Simpl is rethinking credit card billing from the bottom upwards, offering a have-it-all, primarily mobile system for card-based transactions that enables online businesses to develop established connections with their most loyal clients.
It was established in 2015 and has 26000 plus merchants and 7 million users.
Company Profile:
| Name of the company | Simpl |
| Founded year of the company | 2015 |
| Founders of the company | Nityanand Sharma and Chaitra chidanand (ex-founder) |
| Competitors of the company | Zestmoney, ezetap, mswipe, lazypay |
| Website of the company | https://getsimpl.com/ |
| Country of origin | Bengaluru, India |
| Investors of the company | 38 investors |
| Valuation of the company | 15.1 million dollars |
Name & Logo:
Founders:
Simpl has two co-founders, they are nityanand sharma and Chaitra Chidanand (EX-CO-FOUNDER)
Nityanand Sharma: Nitya Sharma is the co-founder of this Company. He completed his B.E. from Punjab engineering college in mechanical engineering from 2998 to 2002.
Then he went to the University of Michigan for his master’s, where he studied M.S. in financial mathematics and finance from 2002 to 2004. Nitya worked for many companies, including Bear Stearns & co ad structured credit trader and goldman sachs as vice president.
He was also a founding team member and portfolio manager for JNF asset management and advisor and board member for Arthavest. Lastly, he founded Simpl in 2015.
Chaitra Chidanand: Chaitra Shidanand was the co-founder as well president of Simpl for 5 years, from 2015 to 2020. Chaitra completed her education at the visvesvaraya technological university where she studied B.E. in electronics and communication.
Then she went to Stanford University’s graduate school of Business for her MBA from 2005 to 2007.
She worked for Infosys technologies ltd as a software engineer for 2 years, for sony pictures entertainment as a strategy intern, for electro scientific industries as a product marketing manager (P&L), for Cinepolis india as head of strategic alliances, and for Brandissimo! As vice president of business development and for Stanford Angels & entrepreneur as vice president. Other than Simpl, she also co-founded SALT in 2020 in Bengaluru, India.
Investors:
It has 38 investors out of which, the company has raised a total funding of 83 million dollars over 5 rounds.
Some prominent investors of simpl are:
- Graph Ventures: Graph Ventures is a Palo Alto, California-based investment company that was established in 2010. The company aspires to make an investment in technology companies with operations in Asia, Europe, the Americas, and South America.
Graph Ventures has invested in many companies, including – airlift, better up, big box, blue apron, button, cut dry, clubhouse, Disco, bridies and many more. The company was founded in 2007 in san francisco and has a portfolio count of 167.
- Hard Yaka: Hard Yaka is a US-based initial stages technology venture capital business.
The Hard Yaka was launched in 2010 and has developed to include more than two hundred businesses spanning financial, web 3, and other industries.
The company has committed to reinventing the internet based on public procedures, personal oversight and possession, and inclusivity and accessibility in the future.
The company’s collaborators are professionals from the Department of the Comptroller of the Currency, Promontory Financial Group, and the Federal Reserve.
- IA Ventures: IA Ventures is a seed-stage investment company that invests in technological startups before they have reached the right balance between product and market. the company is a close-knit staff made up entirely of partners, and they collaborate closely alongside the creators at every stage.
IA ventures have invested in Datadog, The Trade Desk, TransferWise, Flatiron Health, Komodo Health, DataRobot, DigitalOcean, and Recorded Future, IA has funded over 100 businesses since its establishment in 2010.
- Fj Labs: FJ Labs is a New York-based stage-agnostic startup company.
FJ Labs finances a driven businessman who wants to solve significant issues. FJ Labs is a financing company that specialises in businesses with an audience orientation. They make startup and initial series A financing.
The company accepts investments between $50,000 and $5,000,000. It makes investments in companies including Earnest, Betterment, Adore Me, Beepi, and Alibaba Group.
Competitors:
ZestMoney: Zest money is a POS funding tool available digitally. It allows consumers to buy things and repay in payments through the linked retailer community. It makes initial repayments easier.
ZestMoney offers to fund based on financial records. Users who complete Verification on the online platform can get funding choices. zest Money’s Android operating system supports the program’s application.
EzetaP: Ezetap supplies organisations with in-the-cloud mPOS both hardware and software options. Its methods of payment encompass account administration, advertising instruments, customer relationship management, monitoring & analyses, and others.
Additionally, the business offers API solutions for facilitating online payments and integrating with websites. ezetap’s Customers comprise companies like Myntra, BookMyShow, BigBasket, Ola, RedBus, and others.
Mswipe: Mswipe offers retailers and enterprises financing services. It provides goods like point-of-sale systems powered by hardware, payment alternatives depending on QR codes, pay options depending on links, etc.
Additionally, it provides Mcard for EMV- prepaid cards, POS credit for buying funding, and other services. It gives retailers access to an app-based platform that runs on both Android and iOS systems.
Lazypay: Lazy pay is an electronic loan marketplace for funding purchases. It provides a checkout alternative that enables customers to order goods via the Internet and payment every two weeks. Depending upon their financial standing, the business grants customers an amount of credit.
The service itself is inexpensive for consumers, and businesses pay a per-transaction fee. Additionally, it offers consumers short-term financial assistance to pay petty bills. lazy pay is available Both Android and iOS devices
FAQs :
When was Simpl founded?
The company was founded in 2015.
Where was Simpl founded?
The company was founded in Bengaluru, india.
How much funding has Simpl raised?
The company has raised a total funding of 83 million dollars.
What is the company valuation of Simpl?
The company’s valuation is 15.1 million dollars.
In what space does Simpl serve?
The company serves in the B2C space.
In what market segment does Simpl serve?
The company serves in the fintech and financial services market segment.
Who is the additional director of Simpl?
The additional director of The company is Pankaj Baid.
Is Simpl a unicorn?
No, The company is a Soonicorn.
When was the most latest round of funding?
The most latest round of funding of The company was on October 14, 2021.
Who is the chief human resources officer of Simpl?
The chief human resources officer of The company is sneha arora.
Conclusion:
Simpl is the One-tap purchase service in the nation with the goal of making finance smart and transactions undetectable. It is dedicated to democratizing and simplifying the online evolution of the financial industry.
It is India’s top user-friendly system, the company was founded with a quest to enable businesses to cultivate long-lasting connections with customers with one purchase at a period of time.
It aims to create a welcoming online purchasing service for India that encourages and fosters confidence among retailers and their clients due to the availability of a total of 26,000+ businesses and countless trustworthy consumers across the country.
My name is Sai Sandhya, and I work as a senior SEO strategist for the content writing team. I enjoy creating case studies, articles on startups, and listicles.
Disclaimer -We have collected this information from our direct sources, various trustworthy sources on the internet and the facts have been checked manually and verified by our in-house team.