Bengaluru: Fintech platform 'GroMo' said on Monday it has raised ₹4 crore in seed funding led by Ramakant Sharma, co-founder of Livspace, and Utsav Somani of AngelList India, besides some other angel investors. The platform aims to provide access to financial products to the underserved and unpenetrated Tier 2 and beyond cities of the country. GroMo is building a tech-enabled social commerce platform, to offer a full spectrum of financial products such as loans, insurance, and investments to the end consumers through GroMo Partners. Ankit Khandelwal, Co-Founder and CEO, GroMo, said: “India currently witnesses the lowest adoption level of financial products in the world. We believe we can increase the penetration levels of financial products in smaller towns by building a social commerce platform to sell financial products."

Source: Mint June 10, 2019 10:08 UTC