Part of the Best Accelerator in India (as awarded in 2021 by the National Startup India Awards), Giverly plans to utilise these funds to strengthen its technology platform, brand positioning and also expand its leadership team.
Incepted in 2022, Giverly offers VISA powered pre-paid debit cards issued in partnership with Transcorp International Limited that give users an opportunity to make cost-free donations towards some of India’s most pressing social issues. The pre-paid card comes along with a variety of exclusive discounts and offers on fashion brands, dine-out venues, travel and entertainment. Considering that there is a grey area in the authenticity of donation platforms, Giverly is tackling the stigma around online donations by providing 100% transparency through real time updates, photo & video proofs and impact reports to the donors.
Sagar Menon- Co-Founder and CEO, Giverly said in a statement, “Today we celebrate not just the successful fundraise, but the belief and trust that our investors have placed in our vision. We will use this capital to continue building a company that not only delivers value to our customers and stakeholders, but also creates a positive impact on the world. Thank you to our investors for joining us on this journey of growth and impact”.
Commenting on the investment, Munish Bhatia, Co-Founder, India Accelerator and IA Impact Labs said, “As a company, Giverly has a clear mission to make a positive impact on society. The company is empowering individuals and organizations to make a difference in the world and we are happy to be a part of their journey. We’re excited to support Giverly’s vision and look forward to seeing the positive impact it will have on the communities”.
Manvi Mehra, Co-founder and CBO, Giverly said, “We are beyond grateful for the kind of investors who have supported us as part of the pre-seed round. They are all industry leaders, bringing not just financial but also intellectual capital onboard. The belief of such seasoned and experienced individuals in our vision only strengthens us to work harder, and we are confident that it’ll be an extremely fulfilling journey for us all!”
The company also plans to expand its user base to the corporate space by offering convenient and rewarding pre-paid cards for employees while also instilling the culture of giving back to society within the organization. Offering a fuss-free way to tackle essential payments such as bonuses, rewards, gifts, reimbursements, and even salaries, corporates would be an expansive user space.
