Micro-savings fintech startup Siply acquired new-age chit platform myPaisaa for $7.5 million. According to Siply, the acquisition is a significant step towards both startups’ shared goal of delivering fully-digital financial inclusion products to India’s underserved.
Siply customers can invest in mutual funds, gold, and other assets with micro savings starting at INR 1. Siply stated that following the acquisition, it will leverage the combined strengths of both startups to provide customers with innovative, fully digital, sachet financial services, thereby driving growth and financial inclusion in the Indian market.
