Bengaluru: Fintech platform 'GroMo' has raised ₹4 crore in seed funding, led by Ramakant Sharma, co-founder of Livspace, and Utsav Somani of AngelList India, besides other angel investors. to become GroMo Partners and generate additional income by selling financial products by leveraging their social network--WhatsApp, Facebook, Sharechat, etc. 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. GroMo launched its pilot in Jaipur and Alwar, and has already onboarded 500+ GroMo partners and aims to expand to more cities in the coming months. 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 12, 2019 08:15 UTC