About Galgal
Galgal is a company based in Mumbai (India) founded in 2021 by Arun Iyer and Harsh Chhatrapati. Galgal has raised $2.14 million across 4 funding rounds from investors including Darshan Desai, Vijay Patel and GJNX Ventures. The company has 1 employees. Galgal offers products and services including Savings Account, Auto Budgeting, Analytics, and Rewards Arcade. Galgal operates in a competitive market with competitors including Kaleidofin, Tala, Acru, Siply and Belong, among others.
- Headquarter Mumbai, India
- Employees 1
- Founders Arun Iyer, Harsh Chhatrapati
- Stage Minicorn
- SectorsTechnology
- Email••••••••
- Website galgal.money
- Social LinkedIn Facebook Instagram YouTube
- Legal Name Umunthu System Private Limited
- Date of Incorporation 21 Apr, 2021
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹13.3 Lakh
FY 2024 · -25% YoY
- Net Loss-₹3.31 Cr
FY 2024 · -2485% margin
- EBITDA-₹3.62 Cr
FY 2024 · -2723% margin
- Total Equity Funding$2.14M (USD)
in 4 rounds
- Latest Funding Round$196.93K (USD), Seed
Feb 2024
- InvestorsGJNX Ventures
& 16 more
- Employee Count1
Associated legal entities of Galgal
Galgal operates through Umunthu System Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Umunthu System Private Limited CIN U72900MH2021PTC359308 | Active | 21 Apr 2021 | Mumbai, Maharashtra | ₹0.1 Cr | – | 3 | View details |
Products & Services of Galgal
Galgal offers a comprehensive portfolio of products and services, including Savings Account, Auto Budgeting, Analytics, and Rewards Arcade.
Zero-balance account for easy savings and banking.
Automatic system to track and manage expenses.
Features for monitoring spending and financial insights.
Platform offering rewards for financial activities.
Apps and channels of Galgal
Galgal publishes 1 mobile app with over 1K+ downloads; its YouTube channel Galgal: Budget, Save, Spend has 12.4K subscribers and 30 videos.
Videos from Galgal
The most watched videos on Galgal's YouTube channel, Galgal: Budget, Save, Spend (12.4K subscribers). Click a video to play it here.
More on Galgal: Budget, Save, Spend.
Funding Insights of Galgal
Galgal has successfully raised a total of $2.14M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $196.93 thousand completed in February 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $2.14M
- Total Rounds 4
- Last Round Seed — $196,933
- First Round $1.58M
(Feb 2022)
- Investors Count 17
All 4 funding rounds of Galgal with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2024 | $196,933 | Seed | – | Vijay Patel | – |
| Oct 2023 | $315,844 | Angel Round | $9.28M | Darshan Desai, Vijay Patel | – |
| Jan 2023 | $52,883 | Seed | $10.79M | Arctos Ventures | – |
| Feb 2022 | $1.58M | Seed | $••••• | Himanshu Gandhi, L C Raheja Forex |
| Date | Valuation | Stage |
|---|---|---|
| Oct 2023 | $9.28M | •••••••• |
| Jan 2023 | $10.79M | •••••••• |
| Feb 2022 | $••••• | •••••••• |
Full valuation and stage history of Galgal
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $9.28M (Oct 2023). 17 investors in total: 3 institutional and 14 angel.
Investors in Galgal
Galgal has secured backing from 17 investors, including angel, venture fund, and institutional investors. Prominent investors backing the company include Darshan Desai, Vijay Patel and GJNX Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund investing in multiple sectors | – | gjnxventures.tcc.mode | - | |
Offers business strategy, design, and transformation services to corporations and entrepreneurs. | 2018 | arctos.one | El Segundo, United States | |
- | – | lcrahejaforex.tcc.mode | - | |
DD Darshan Desai | Angel investor and entrepreneur, focused on tech startups in India. | – | unknown_ef2f0388ac3f4d90b | - |
VP Vijay Patel | - | – | unknown_f9603ff626624823a | - |
HG Himanshu Gandhi | Founder of BigBasket, active angel investor in Indian startups | – | unknown_29a677856de84fb8a | - |
VP Vijay Patel | Indian angel investor, entrepreneur, focused on tech startups and innovation. | – | unknown_ccfc4ac8722a44a89 | - |
DD Deep Doshi | - | – | unknown_03c44403882645b49 | - |
SK Sanjay Kalwani | - | – | unknown_23ac3ee11e4f4de68 | - |
SD Srikhant Desai | - | – | unknown_dab0ec01fb6945618 | - |
Investor details for Galgal
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Umunthu System Private Limited (Galgal)
Umunthu System Private Limited is the primary company behind Galgal. The board of Umunthu System Private Limited currently have 3 directors; the longest-serving is Harsh Udit Chhatrapati, appointed in 2021. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Harsh Udit Chhatrapati DIN 09153988 | Director | 21 Apr 2021 | 5 yrs 5 mo | Umunthu System Private Limited |
| Udit Ramesh Chhatrapati DIN 09153989 | Director | 21 Apr 2021 | 5 yrs 5 mo | Umunthu System Private Limited |
| Darshan Desai Shrikant DIN 06951802 | Director | 12 Dec 2023 | 2 yrs 10 mo | Umunthu System Private Limited |
People of Galgal
2 people are tracked at Galgal (2 in leadership); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
Arun Iyer | Co-Founder & CPO | Leadership |
| Co-Founder & CEO | Leadership |
Complete people profiles for Galgal
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Galgal
Figures of Umunthu System Private Limited, the primary company behind Galgal, for FY 2024. Revenue was ₹13.3 Lakh (-25% year on year). Net loss was -₹3.31 Cr (-2485% margin). EBITDA was -₹3.62 Cr (-2723% margin).
- ₹13.3 LakhRevenue · FY 2024 · -25% YoY
- -₹3.31 CrNet loss · -2485% margin
- -₹3.62 CrEBITDA · -2723% margin
- ₹2.9 LakhPaid-up capital
Balance sheet, profit and loss, cash flow and ratios of Umunthu System Private Limited are on its company page.
Detailed financial statements for Galgal
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Galgal
4 dated milestones of Galgal across 3 years, from founding to its latest funding, stage changes and deals.
- Founded Galgal is founded.
- Funding First funding round of $1.6M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $197K.
Competitors of Galgal
Galgal operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Kaleidofin, Tala, Acru, Siply and Belong, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| kaleidofin.com | 2017 | Chennai, India | $47.39M | 141 | Provider of financial technology solutions for inclusive lending | |
| tala.co | 2011 | Santa Monica, United States | $347.7M | 40 | Fintech services for credit, savings, and payments are delivered globally. | |
| acru.in | 2019 | Bengaluru, India | $233,066 | – | Micro-savings are enabled via app for mutual fund investments. | |
| siply.in | 2020 | Bengaluru, India | $27.08M | 6 | Provider of micro‑savings and financial inclusion services via AI‑driven app | |
| getbelong.com | 2024 | Bengaluru, India | $9.97M | 28 | USD fixed deposit services are offered to non-resident Indians. | |
| dvaramoney.com | 2018 | Bengaluru, India | – | 76 | Wealth management services are delivered via diversified tech-enabled accounts. | |
| savvy.com.pk | 2020 | Karachi, Pakistan | – | – | Multi-industry freelancers are matched to jobs via an online platform. | |
| wizely.in | 2016 | Bengaluru, India | $1.32M | 5 | Automated savings are managed through a goal-oriented mobile app. | |
| savesmart.app | 2021 | Bengaluru, India | $124,400 | – | A cloud-based platform is offered for savings management and tracking. |
Detailed competitors of Galgal
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Galgal
The website of Galgal (galgal.money) receives about 2.6K visits a month.
- Monthly visits2.6K
▲ 49.3% vs previous month
Latest news on Galgal
Complete news archive for Galgal
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Similar companies to Galgal
10 companies that operate in the same segment as Galgal (Investment & Financial Technology), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Commission-free trading and investment services are provided by Robinhood. | 2013 | Menlo Park, California, United States | USD 5.73 B | USD 2.98 B | 2,300 | |
Online exchange platform for cryptocurrency | 2017 | Ta Xbiex, Malta | USD 2.02 B | – | – | |
Online social trading platform for cryptocurrency, stocks, ETFs, and CFDs | 2007 | Tel Aviv, Israel | USD 422.94 M | USD 925.73 M | – | |
Financial data and investment advisory tools are offered online. | 1984 | Chicago, Illinois, United States | USD 91 M | USD 351.25 K | 6 | |
App-based brokerage stock trading platform | 1996 | Mumbai, Maharashtra, India | USD 38.41 M | USD 548.9 M | 3,830 | |
App-based platform for spare change investment | 2012 | Irvine, California, United States | USD 587.84 M | – | – | |
Smart investment portfolios are offered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 121.05 M | USD 635.51 K | 231 | |
App-based automated investment and retirement planning platform | 2010 | New York, New York, United States | USD 335 M | – | – | |
Money Forward is engaged in providing financial technology solutions. | 2012 | Minato, Tokyo, Japan | USD 42.9 M | USD 322.51 M | 2,600 | |
Wealth management solutions are delivered for investment advisors. | 2009 | Mountain View, California, United States | USD 759.1 M | – | – |
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Frequently Asked Questions about Galgal
Galgal was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Galgal is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Harsh Chhatrapati is the current CEO of Galgal. They have also founded this company.
Galgal is a funded company, having raised a total of $2.14M across 4 funding rounds to date. The company's 1st funding round was a Seed of $1.58M, raised on Feb 2022.
Galgal has 1 employees.
The primary company behind Galgal, Umunthu System Private Limited, reported revenue of ₹13.3 Lakh for FY 2024, down 25% year on year.
Galgal was founded in 2021 in Mumbai, India, as a digital banking platform in the fintech sector. Operations center on simplifying personal finance via a mobile app for daily money management. A zero-balance savings account is provided, alongside tools for budgeting, savings tracking, and spending analysis. The platform serves users seeking accessible financial services in India.
Galgal's top competitors include Kaleidofin, Tala and Acru.
Galgal offers Savings Account, Auto Budgeting, Analytics, and Rewards Arcade.
Galgal has 17 investors. Key investors include Darshan Desai, Vijay Patel, GJNX Ventures, Arctos Ventures, and Himanshu Gandhi.
The valuation of Galgal is $9.28M as of Oct 2023.
Galgal operates through Umunthu System Private Limited.