Fundly: Fintech firm bags $3 million in seed funding

Mumbai-based fintech startup on Sunday said it has raised $3 million in a seed funding round, led by Accel. Other investors in the round included Multiply Ventures and other angel investors.

The pharma supply chain startup that services retailers and distributors also financially equips them to manage better cash flows and increase their margins. The company, currently present in southern and western Indian markets, wants to focus on growing in its existing markets, founder Amit Chawla told ET.

Founded by Chawla and Shreeram Ramanathan, is present across nine cities in India and has been bootstrapped since 2021. The duo worked at InCred through the years 2018 and 2019.

“With this new funding, we are excited to expand our reach and explore untapped markets, bringing our vision of a more efficient and effective pharma supply chain to an even larger demographic,” Chawla said.

Till date, the startup has serviced over 2,000 retailers and more than 30 distributors across nine cities by disbursing funds worth Rs 140 crore ($17.1 million). About 55% of…

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