Micro-lending startup Buddy raises $500K from Blume, others
The series of investment and funding continues; no matter how hardly the Sensex falls or how low rupee values against dollar; there’s nothing that can stop Indian startup community from growing. The empowering tools provided by government and varied private institutions are helping people come over innocuous challenges and build a business that is bound to raise funds and grow out of leaps and bounds.
Micro lending startup ‘Buddy’ that lends money to students has raised $500K from Blume and few other investors. Buddy is a Bengaluru based student money lending startup; they tend to help students in money with financial help. They have acquired huge popularity in recent past and now are the time when they are cashing on to it.
Buddy was in talk with varied investors and entrepreneurs measuring possibilities of investment. Blume and TracxnLabs have decided to invest a total of $500 K in the startup.
The Bengaluru based startup is really popular among college going students. It has been their friend in need and now they are expecting more and more from this startup.
Buddy provides a purchasing power between 1,000 INR-90, 000 INR. They fund necessary items like mobiles and laptops through their e-commerce partners like Flipkart and Amazon. Snapdeal has also been a favorable partner for Buddy.
Buddy is one of the most unique names in Indian startup community; it serves with a sense of belonging and ensures that people feel connected with them. The Series A funding will help the entrepreneurs in strengthening their network and with this they will be able to help more and more students and provide greater opportunities of lending and buying items that are the need of the hour.
Buddy has helped hundreds of students in acquiring the best educational tools and services. They also lend money for educational projects and they also support the spirit of entrepreneurship.
Two young lads founded the startup in October 2015 but its function officially started in January and today they have acquired a huge investment of $500 K. The Buddy is working in association with 100 startups and is ensuring proper support for every student in need.
The unique idea and the amazing zeal to help students in need have pushed this startup to the newer extent. Students have been able to start the most ambitious projects of their lives with great ease.
Now is the time when we need more and more of such startups, we need people who can help us make the world a better place and also help us conquer everything that we are capable of. Indian startup community is making all the requisite efforts; these investors are just providing them with the requisite support and making their lives easier and businesses successful.
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