Galgal, A Fintech Firm Has Raised $1 Million In Seed Funding.

 

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Galgal Money, a fintech firm, has acquired $1 million in early investment from angel investors. The finances have allowed the business to deploy the app quickly and increase client acquisition. Furthermore, the company wants to engage in product development to significantly improve customer experience and to focus on delivering features that might improve the neo-banking experience to India’s young.

Galgal Fintech Startup

Galgal Money is indeed a new-age Mumbai-based fintech start-up founded in 2021 by Harsh Chhatrapati & Arun Iyer that focuses on delivering efficient financial solutions to the young, with the goal of simplifying money management and making savings as stress-free as possible.

The Galgal app is designed to inform users whenever they overspend or lack of spending using its AI algorithm. 

This is founded on the concept that effective money management behavior develops like any other habit through reward and punishment.

The user can choose to feel glad or bad about an expense in order to be even more careful a next time they spend.

“While pursuing my study at Imperial College London, I found myself battling a challenge that most students in this day and age encounter, Money Management,” stated Harsh Chhatrapati, founder of Galgal. 

With limited pocket money and a myriad of possible costs, we young people become dissatisfied when there is a significant gap between what we want to save and what we can really achieve. 

This inspired me to create a feel-good solution that will improve banking for India’s young and ease money management for everyone. Galgal’s purpose, inspired by the Indian lemon, is to assist consumers “squeeze the most out of your money.”

“Currently, Gen z makes up 375 million, which is over 25% of India’s population, whether they are students, first jobbers, new out of college, or hustlers,” stated co-founder Arun Iyer.

The Galgal app allows users to build a budget that constantly computes the guilt-free balance as soon as money is placed in their Galgal account.

The Galgal analysis report categorizes the user’s purchasing habits automatically. Based on this, the user is prodded on a regular intervals to maintain they are constantly in charge of their finances.

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