TLDR:
Key Points:
- Fintech startup CirclePe raises close to $1 million in pre-seed round.
- Leading investors include OTP Ventures, 1947 Rise, iSeed, IIT Delhi, Venture Catalyst, and industry leaders.
Fintech startup CirclePe has secured nearly $1 million in a pre-seed funding round led by OTP Ventures, with participation from several other prominent investors. CirclePe, founded by Navan Jaiswal and Ankur Yadav, offers a ‘Smart Renting’ solution that allows credit-worthy tenants to move in without paying a security deposit, only the monthly rent.
The company aims to disrupt the traditional rental value chain by partnering with proptech companies to provide a hassle-free rental experience for tenants, independent retail landlords, and co-living operators.
Suhail Sameer, the former CEO of BharatPe, is now the managing partner at OTP Ventures, which is expected to close its debut fund at Rs 400 crore. The funding acquired by CirclePe will enable the company to further develop its innovative rental solution and expand its presence in the rental market.
Other recent snippets in the startup ecosystem include Sauce.VC launching its third VC fund, insurtech startup CoverSure raising $4 million in a pre-Series A round, and High Street Essentials, parent company of Indya and FabAlley, securing $6 million in funding. DVARA KGFS has also raised $10 million in a debt round.
