Neobank Walrus, a Bangalore based has now announced that it has secured an undisclosed amount of funding for its platform, which is highly focused on providing banking solutions for teens and young adults.
The pre-seed funding round was backed by the Better Capital, an early backer of neobanks in India that has invested in Khatabook, Open, Yelo, Slice, and Jupiter.
The startup as of now has plans to use the new funds to expand its team and enhance product features.
Lead investor Vaibhav Domkundwar said,
“Walrus is the biggest missing link for today’s Instagram generation in India – it puts money in the hands of the teenagers so they can feel independent, make their own choices, learn from the choices they make and grow up to be a financially educated generation. We have 200 million such teenagers who will experience money and money management in a new way with Walrus.”
