EarnWealth, a social commerce fintech business located in Pune, has secured Rs 3.5 crore ($500,000) in an equity round led by a few Pune-based angel investors at a valuation of Rs 50 crore, according to the firm.
EarnWealth, founded by Rajesh P Nair in 2014, generates micro-entrepreneurs in the financial services industry known as Mahalakshmi.
EarnWealth began as a standard B2B financial product distributor. This experience encouraged the team to propose the social commerce model for personal loan distribution in 2020, and it gained a lot of traction.
Around 100 Mahalakshmis are now operating on the platform, and EarnWealth hopes to add 10,000 Mahalakshmis in a year with the help of new financing.
