Social Commerce Fintech Startup Earnwealth Raises $500k

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funding 1

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.