Fintech SaaS startup Nimbbl raised $3.5 million in Pre-Series A led by Groww, Sequoia Capital India and Global Founders Capital where other investors including Palo Alto-based Amara VC, CRED founder Kunal Shah, Pine Labs CEO Amrish Rau, Jupiter founder Jitendra Gupta, Nium founder Prajit Nanu and former senior executive of Mswipe Srinivas Rao also participated.
Nimbbl intends to use the funds to improve its product offerings and go-to-market capabilities. The Mumbai-based fintech startup primarily provides digital payment solutions such as BNPL services, one-click checkout payments, and payment gateway consolidation to online merchants. Before starting Nimbbl, the founders worked at Citrus Pay and PayU.
The company also creates no-code payment links and custom payment pages, as well as plug-in solutions for online merchants who use ecommerce platforms like Shopify, WooCommerce, OpenCart, and Magento.
“With our technology, merchants can personalise the checkout experience for their customers, resulting in 40% more payment initiations.” This equates to a 6-8% increase in revenue. “With the new raise, we hope to increase this number because it allows us to delve deeper into problems we’ve already identified,” said Nimbbl cofounder Anurag Pandey.
The startup’s goal is to help online businesses run more efficiently by increasing customer conversions, growing revenue, and lowering expenses.
The startup claims to have served over 4,000 merchants with its services. Its offices are currently located in Mumbai, New Delhi, and Bengaluru. It competes with companies such as Mintoak, Lentra, and FinBox in the fintech SaaS space.
