Multipl, a Bengaluru-based fintech platform, has secured $1.5 million (Rs 12 crore) in an extended seed funding round co-led by Blume Ventures and MIXI Global Investments, Inc. This follows an initial $3 million raised in May 2022 from investors including Blume Ventures, GrowX Ventures, IIFL, and Kotak Securities Limited.

Founded in 2020 by Paddy Raghavan, Jags Raghavan, and Vikas Jain, Multipl focuses on democratizing mutual fund investments. The platform integrates with mutual funds and partners with brands, enabling consumers to invest in mutual funds tailored for lifestyle spending.

The new funding will fuel Multipl’s mission to enhance its platform and introduce disruptive features aimed at simplifying financial planning for more Indians. According to a press release, Multipl aims to expand its offerings, including the recently launched ‘Open Goals’ feature. This innovation allows users to invest in future expenses through partnerships with leading brands, fostering a seamless integration of financial planning into everyday consumer behaviour.

Multipl boasts significant milestones, including 500,000 downloads, over 100 brand partnerships, and facilitating goals valued at over Rs 1,000 crore. The platform’s ‘window shopper widget’ further enhances consumer savings by embedding financial planning options directly into merchant websites and apps.

In a competitive landscape dominated by players like Groww, AngelOne, and PhonePe, Multipl stands out with its unique approach to integrating investment opportunities with consumer spending habits. The latest funding round positions Multipl strongly to continue its growth trajectory and innovate further in the fintech space.

Stay tuned as Multipl continues to redefine mutual fund investments and financial inclusivity in India.