Get All Access for $5/mo

Fello Raises $4 Million To Bring Gamified Savings For Indian Zillennials The fund raised will be used to develop unique gamified financial products, hire top talent across functions, and expand its user base to the many millions in the tier-1 and tier-2 cities of India

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Fello, India's gamified savings platform, designed for the Gen-Zs and young millennials of India, has raised $4 million in their latest funding round led by US-based Courtside Ventures, along with participation from, Entrepreneur First, Ycombinator, Kube Venture and Upsparks. Angel investors Kunal Shah, (founder of Cred), Lalit Keshre, (co-founder of Groww), Charlie Songhurst, Dafeng and Alan Rutledge participated in this round. Previously, in November 2021, the company had raised $1 million in its Seed round. The fund raised will be used to develop unique gamified financial products, hire top talent across functions, and expand its user base to the many millions in the tier-1 and tier-2 cities of India.

"We are thrilled to begin the New Year with a new round of funding through new and existing marquee investors. This reaffirms our vision of becoming India's preferred 'fun-ancial savings app' that combines finance and gaming, thus inculcating and encouraging the habit of saving and investing among India's youth. Presently, we have a user base of over 500,000, with 72% customers coming to the platform organically, through referrals. We are confident that with our accelerated growth and expansion, we will be able to reach our target of 5 million users by December 2023," said Manish Maryada, co-founder and CEO, Fello.

The gamified savings platform incentivizes users through gaming to save and grow their money with returns higher than their traditional savings accounts. The company aims to on-board 5 million customers by the end of 2023 and enable the underbanked population of India through an innovative suite of products that gamify investing, according to a statement by the company.

"India has attracted unprecedented investment in the last four years in the fintech and gaming sector. As a global game investor, Courtside Ventures has remained very active in the ecosystem. The Indian Gaming audience is one of the largest and most active markets in the world; yet financial services applications attract a fraction of that gaming audience. There is a tremendous market opportunity to bridge the gap in financial literacy and investing in a fun and gamified experience. We are incredibly bullish that there is a massive opportunity at the intersection of gaming and financial services in India," said Kai Bond, partner of Courtside Ventures.

Founded in 2021 by Manish Maryada and Shourya Lala, Fello aims to make finance fun and rewarding, thereby helping India's youth build better financial health.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
News and Trends

India's Logistics Cost to be Reduced to 9% Within 2 Years: Nitin Gadkari

With a focus on innovation, clean energy, infrastructure, and rural empowerment, Nitin Gadkari's vision aligns with India's aspirations to become a global economic powerhouse.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

News and Trends

India's Data Center Capacity to Reach 2,070 MW by End of 2025: CBRE

Cumulative investment commitments in the data center sector in India to cross USD 100 billion by 2027. Mumbai, Chennai, and Delhi-NCR to lead data center supply addition