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GalaxyCard receives seed funding from angel investors

GalaxyCard is one of the fastest lending companies in India and even provides instant credit cards. The startup just received an undisclosed amount of seed funding from many angel investors. The most prominent among them were Samyakth Capital and Gopinath Latpate, among others. Using the seed funding, the company plans to expand its business operations and also increase its customer base. The startup also plans to improve the accessibility of its service to more customers.

Talking about the investment in the company Mr Aalesh Avlani, Samyakth Capital said that their views align with the views of Amit Kumar. And they strongly believe in the goal and vision of his company to make credit cards available to everyone.

Note: As I was writing this article, I went on to try out their app. But for me, the signup process is getting stuck at the personal details page. So, guys from Galaxycard if you are reading this fix the issue asap.

More about GalaxyCard

GalaxyCard - Crunchbase Company Profile & Funding

The startup was founded in 2018 and provides customers with credit cards within 3 minutes. It has a customer base spread across more than 600 towns and provides many benefits to its users. By offering features like zero annual charges, no interest fees, and free joining it has attracted many in need of a Credit card.

According to the founder of the startup Amit Kumar, the main idea of the startup was to provide credit cards to those having an income less than 30k. This is because almost all credit card companies do not provide service to those below this income group. By getting a CC from Galaxycard users can become more self-dependent and get better at managing their credit and expenses.

Vision of the company

Indian fintech startup GalaxyCard gets you instant digital credit card free  of cost | The Independent Singapore News

According to Amit, banks often ignore and don’t give credit facilities to those having income less than 30k a month. This makes it difficult or impossible for them to get a credit card. The same also goes for students for whom too its very difficult to get credit facilities. But, Galaxycard is going to change that by providing customers with good credit score use their card and learn to manage their financials.

With a very easy and simple signup process, the startup is already seeing huge growth. It has been registering a 15% increase in users per week. To further strengthen its position in the finance market, the startup is also planning to launch premium credit cards and even student credit cards very soon. This will help them reach a wide sector of the market and at the same time, help them learn financial management.

What are your thoughts on the startup? And will you be interested in getting a credit card from them? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

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