About Spenny
Spenny is a company based in Bengaluru (India) founded in 2019 by Gaurav Arora and Rathin Shah was acquired by CRED in June 2023. Spenny has raised $150 thousand across 1 funding round from investors including CRED and Y Combinator. Spenny offers products and services including Spenny App, Digital Gold Investment, and Mutual Fund Investments. Spenny operates in a competitive market with competitors including Piggy, Tranako, pennywise and Codeister Technologies, among others.
- Headquarter Bengaluru, India
- Founders Gaurav Arora, Rathin Shah
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Sectors
Technology
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Email
Locked
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Phone
Locked
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Website
Locked
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Social
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- Legal Name Spenny Fintech Private Limited
- Date of Incorporation 22 Jan, 2020
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
$458.15 K (USD)-3.65as on Mar 31, 2023
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Net Profit
$5.94 K (USD)-50.98as on Mar 31, 2023
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EBITDA
$125.67 K (USD)17.35as on Mar 31, 2023
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Total Equity Funding
$150 K (USD)
in 1 rounds
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Latest Funding Round
$150 K (USD), Seed
Jun 01, 2020
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Investors
CRED
& 1 more
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Employee Count
Not available
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Acquired by
CRED
(Jun 23, 2023)
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Products & Services of Spenny
Spenny offers a comprehensive portfolio of products and services, including Spenny App, Digital Gold Investment, and Mutual Fund Investments.
Automates savings through rounding up daily spends for investments.
Enables investment in digital gold via automatic roundups.
Facilitates investing in mutual funds through spend-based savings.
Funding Insights of Spenny
Spenny has successfully raised a total of $150K through 1 strategic funding round. The most recent funding activity was a Seed round of $150 thousand completed in June 2020. 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.
Investors in Spenny
Spenny has secured backing from 2 investors, including venture fund and institutional investors. Prominent investors backing the company include CRED and Y Combinator.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage startups are accelerated via funding and educational programs.
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CRED is operated as a members-only financial rewards club.
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Investor details for Spenny
Investor domains, locations, round participation, and complete history require an active premium plan.
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Verified entity values are shown only after access is granted.
Investments & Acquisitions by Spenny
Investment portfolio details for Spenny
Portfolio company identities, transaction dates, round details, and investment values require an active premium plan.
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- Transaction dates
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Financial Statements - Spenny
Detailed financials for Spenny
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- Profit trends
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Spenny Comparisons
Peer comparison for Spenny
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- Named peers
- Headcount comparison
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Competitors of Spenny
Spenny 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 Piggy, Tranako, pennywise and Codeister Technologies, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Piggy is recognized as a direct mutual fund investment platform in India.
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Spare change from purchases is automatically invested in global assets.
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Offers financial workshops, digital tools, and community for corporate employee education.
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Web and mobile app-based microsavings platform
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Detailed competitors of Spenny
Competitor domains, locations, full profiles, and operating metrics require an active premium plan.
- Domains and locations
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Latest news on Spenny
Complete news archive for Spenny
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Frequently Asked Questions about Spenny
Spenny was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Spenny is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Rathin Shah is the current CEO of Spenny. They have also founded this company.
Spenny is a funded company, having raised a total of $150K across 1 funding round to date.
Annual revenue of Spenny is $458.15K as on Mar 31, 2023.
Founded in 2019 in Bengaluru, India, the company operates in the fintech sector as an app-based platform. Transaction amounts are rounded up by users, with these funds invested in digital gold or mutual funds. Lump sum investments into gold or chosen mutual fund portfolios are also facilitated. The application is available on Android and iOS for individual users.
Spenny's top competitors include Piggy, Tranako and Codeister Technologies.
Spenny offers Spenny App, Digital Gold Investment, and Mutual Fund Investments.
Spenny has 2 investors. Key investors include CRED, and Y Combinator.