Fello[how this fintech startup is helping Millennials & Gen-Zs to save money in 2023]
Fello is a Gamified Fintech Startup
What is Fello?
Fello is India’s first gamified investment-based startup and is unique in its own way, Fello is a gamified investment and personal finance platform which incentivizes users for saving, grow their money, and receive returns higher than their traditional savings account, founded by Manish Maryada and Shourya Lala in the year 2021.
The main vision of this financial-based startup is “to make finance fun and playful but not boring”.
|Fintech Games & Services
How did Fello start?
The idea of Fello started with manish and shaurya. These two started with the in-house programs and then started working on the idea. Fello has a team of Gen-Zs and millennials that started thinking along the lines of how saving money in stocks and deposits is boring, as opposed to buying an entry ticket for an online game and winning money. They launched the startup in January 2021.
This Bengaluru-based startup gives opportunity to people to save and gain money in a fun way by playing the various in-house games in the application itself.
Here is a quick overview
Where does it stand now in 2023?
This duo-founded startup has been trusted by the likes of lendbox, Augmont, CIIE, BIS, Association of mutual funds in India , Initially started with both co-founders, fello has grown to a team consisting of a total headcount of 25+ in 2023.
This fintech-Startup has total downloads of a whopping 500K in Google Play Store with 3.8 stars and 1.3K Reviews.
The growth rate of this finance-based start-up is exponential. The growth has been so impressive as after launching the product in January, In November the start-up reached up to 2500 users which was a great milestone to achieve.
The growth rate has been so positive that the founding team and the other team members were not expecting it. And to get these users no extra funding was required by the start-up post that the team is also working on product improvement and now currently they have 600,000 users.
This Bangalore-based start-up provides a very unique product which is not yet been introduced in the market by any other player. However, there are other finance players and financial investment-based companies that can be considered competitors.
The strength of this Bangalore-based Startup is that the products are very unique and you. The founding team and the other team members of this company are also very innovative and creative. There is a very healthy work environment among team members so it can be considered as one of the strengths.
Opportunities can be how a lot of individuals are presently interested in investment and how everyone wants to save money. This can be a great opportunity for this finance-based start-up to step up and reach more people.
This Gamified fintech platform, fello has raised US$4M in its latest round of funding led by New York-based Vc Firm of Courtside Ventures on Jan 05, 2023.
This Startup has raised a pre-seed round from Entrepreneur First. During the year-end of 2021, Fello raised US$ 1M in its seed round of funding from the likes of Angel Networks such as Dexter angels, Acequia capital, JITO Angel Network, Kube VC, Upsparks and eminent serial entrepreneurs like Ashneer Grover, Ex-founder of Bharatpe, Charlie Songhurst of Bear Robotics and Faiz Mayalakkara.
Manish Maryada, the CEO, has done his masters from Texas university and had experience working in Koinex, Flobiz.
Shourya Lala, CTO, has done his bachelor of technology at Manipal university had worked for the likes of Blackrock.
Awards & Accomplishments
Fello has won Y Combinator Winter 2022, the most esteemed Startup Incubation center in the world.
How does fello work?
Users can save their money and play the games and win the prizes in the form of Tokens, Rewards, Cashback, Digital gold.