About Spenny
Spenny is a Technology company based in Bengaluru (India) founded in 2019 by Gaurav Arora and Rathin Shah, and was acquired by CRED in June 2023. Savings and gold investments are enabled through app-based transaction roundups. Spenny has raised $150 thousand across 1 funding round from investors including CRED and Y Combinator. Its chief executive, as recorded, is Rathin Shah. Its Indian entity Spenny Fintech Private Limited reported revenue of ₹3.81 Cr. Spenny offers products and services including Spenny App, Digital Gold Investment, and Mutual Fund Investments. Its focus areas include FinTech, Investment Tech, Wealth Management Platforms and Robo Advisors. Its competitors include Piggy, pennywise and Codeister Technologies; 1 of its 3 listed competitors has raised funding.
Company details
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.
- Headquarters Bengaluru, India
- Founders Gaurav Arora, Rathin Shah
- Stage Acquired
- SectorsTechnology
- Email••••••••
- Website spenny.com
- Social LinkedIn X Facebook Instagram
- Acquired by CRED (Jun 2023)
- Legal Name Spenny Fintech Private Limited
- Date of Incorporation 22 Jan, 2020
- Jurisdiction Bangalore, Karnataka, India
Associated legal entities of Spenny
Spenny operates through Spenny Fintech Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2023) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Spenny Fintech Private Limited CIN U67100KA2020FTC131808 | Active | 22 Jan 2020 | Bangalore, Karnataka | ₹3.8 Cr | 2 | View details |
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.
- Total Funding $150,000
- Total Rounds 1
- Last Round Seed — $150,000
- First Round $150,000
(Jun 2020)
- Investors Count 1
All 1 funding rounds of Spenny 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 |
|---|---|---|---|---|---|
| Jun 2020 | $150,000 | Seed | – | Y Combinator | – |
2 investors in total: 2 institutional.
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 |
|---|---|---|---|---|
Early-stage startups are accelerated via funding and educational programs. | ycombinator.com | Mountain View, United States | ||
CRED is operated as a members-only financial rewards club. | 2018 | cred.club | Bengaluru, India |
Investor details for Spenny
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 Spenny Fintech Private Limited (Spenny)
Spenny Fintech Private Limited is the primary company behind Spenny. The board of Spenny Fintech Private Limited currently have 2 directors; the longest-serving is Rathin Jitesh Shah, appointed in 2020. 3 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Rathin Jitesh Shah DIN 08675371 | Director | 22 Jan 2020 | 6 yrs 9 mo | Spenny Fintech Private Limited |
| Narasimha Sastry Vasanth DIN 08816981 | Director | 05 Sep 2024 | 2 yrs 2 mo | Spenny Fintech Private Limited |
People of Spenny
2 people are tracked at Spenny (2 in leadership).
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder & CEO | Leadership |
Complete people profiles for Spenny
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Spenny
Figures of Spenny Fintech Private Limited, the primary company behind Spenny, for FY 2023. Revenue was ₹3.81 Cr (-4% year on year). Net profit was ₹4.9 Lakh (1% margin). EBITDA was ₹15.7 Lakh (4% margin).
- ₹3.81 CrRevenue · FY 2023 · -4% YoY
- ₹4.9 LakhNet profit · 1% margin
- ₹15.7 LakhEBITDA · 4% margin
- ₹6.82 CrPaid-up capital
Balance sheet, profit and loss, cash flow and ratios of Spenny Fintech Private Limited are on its company page.
Detailed financial statements for Spenny
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
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- Downloads
Verified entity values are shown only after access is granted.
Timeline of Spenny
3 dated milestones of Spenny across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Spenny is founded.
- Funding First funding round of $150K.
- Exit Acquired by CRED.
Competitors of Spenny
Spenny has 3 listed competitors in our database, 1 of them funded. They include Piggy, pennywise and Codeister Technologies.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| piggy.co.in | 2016 | Bengaluru, India | $161,787 | Piggy is recognized as a direct mutual fund investment platform in India. | ||
| pennywiseapp.in | 2020 | India | Offers financial workshops, digital tools, and community for corporate employee education. | |||
| codeister.com | 2015 | Kochi, India | Web and mobile app-based microsavings platform |
Detailed competitors of Spenny
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Spenny
Websites that share an audience with Spenny (spenny.com).
Websites whose visitors overlap most with Spenny. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| bmcbankltd.com | 100% | 2.6K | #5,890,437 | View details |
Top companies in Investment & Financial Technology
2 companies that operate in the same segment as Spenny (Investment & Financial Technology) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
App-based brokerage stock trading platform | 1996 | Mumbai, Maharashtra, India | USD 38.41 M | USD 548.9 M | 3,830 | |
Smart investment portfolios are offered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 121.05 M | USD 635.51 K | 231 |
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Related news about 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 CEO of Spenny, as recorded in our data. They have also founded this company.
Spenny is a funded company, having raised a total of $150K across 1 funding round to date. The company's 1st funding round was a Seed of $150K, raised on Jun 2020.
The primary company behind Spenny, Spenny Fintech Private Limited, reported revenue of ₹3.81 Cr for FY 2023, down 4% year on year.
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, Codeister Technologies and pennywise.
Spenny offers Spenny App, Digital Gold Investment, and Mutual Fund Investments.
Spenny has 2 investors. Key investors include CRED, and Y Combinator.
Spenny operates through Spenny Fintech Private Limited.
Yes. Spenny was acquired by CRED in June 2023.
The legal entities of Spenny currently have 2 directors, including Rathin Jitesh Shah, Narasimha Sastry Vasanth.