WeRize, a Bengaluru-based socially distributed full-stack financial services platform, raised $8 million in a Series A round led by 3one4 Capital, Picus Capital, Kalaari Capital, and Orios Ventures.
WeRize is India’s first socially distributed full stack financial services platform for families in small towns, founded by ex-LendingKart executives Vishal Chopra and Himanshu Gupta in 2019.
Vishal Chopra & Himanshu Gupta, Co-founders, WeRize said, “We are creating a new category in the Indian financial services space; a socially distributed full stack financial services platform for 4000+ small towns of India. The full stack approach of owning both the product and the distribution gives us unique insights about our customer segment that becomes an unbeatable competitive advantage.
According to the statement, revenue increased by tenfold in the previous year. Through its social distribution “Social Shopify of Finance” digital platform, which will have over 50,000 freelance financial experts across India, the company now serves consumers in 1000+ cities and towns and expects to reach 4000+ towns in the next two years.
Sharing views on the investment, Anurag Ramdasan, Partner at 3one4 Capital added, “Financial services for 4000+ small towns in India is a space that has been largely untouched due to the complex nature of the space. Vishal and Himanshu have been working on this space for two years to build a lean, efficient approach to solving the problem for 300 million Indians.
“Vishal and Himanshu bring to the table all the necessary know-how and experience to build India’s first socially distributed full stack financial services brand for families in small town India . Small town India needs a very different set of products than is currently made available by incumbent players and a distribution model that solves the unique challenges that exist in these markets. The full stack play by WeRize hits all the right notes and we look forward to supporting the team in the exciting next phase of growth,” stated Rajesh Raju, Managing Partner at Kalaari Capital.