Zype, a fintech startup mentored by industry veteran Vivek Vig, has raised funding from Mumbai-based private equity fund Xponentia Capital.
Zype aims to make credit more accessible to millennials and assist them in creating long-lasting financial habits. Yogi Sadana, the founder and CEO of the startup, is the team leader. He has held several executive positions with Indian and multinational organizations in the past.
Zype stated in a statement that it plans to use the funds to develop its technological infrastructure, expand its team, and customer acquisition.
“I am sold on Zype’s vision and Yogi’s leadership. I believe in the team’s ability to build an iconic company and capture the opportunity that the next decade has to offer,” stated Vivek Vig, mentor and board member.
Speaking on the fundraise, Yogi Sadana said, “We are in the process of building Zype, a customer-first platform where we intend to offer credit products and interactive money management tools. Our passionate young team has been dedicatedly working on the technology platform. We are glad to have the backing of Devinjit Singh and PR Srinivasan of Xponentia Capital, and Vivek Vig, who has a long record of creating value in financial services.”
“We truly look forward to working with Vivek, Yogi, and the team of Zype to create inroads in the fintech ecosystem of India. The future of fintech in India looks robust, and with the Zype management team’s experience in technology, risk management, finance, and payments, we are confident that Zype will play a key role in the fintech industry,” added PR Srinivasan, Managing Partner, Xponentia Capital.
