Hubble Raises $3.4 Million In Seed Funding Round Led By Sequoia Capital Funds will be utilized to build a robust decentralized savings infrastructure to power its consumer-facing applications, to on-board leading Indian and global brands onto its platform, and to hire top-notch talent

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

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

Company

Hubble, a fintech company working on creating a decentralized savings platform, on Thursday announced to have raised $3.4 million in a seed round led by Sequoia Capital India, with participation from top angel investors like Kunal Bahl and Sateesh Andra, among others. Funds will be utilized to build a robust decentralized savings infrastructure to power its consumer-facing applications, to on-board leading Indian and global brands onto its platform, and to hire top-notch talent.

"More than 95% of Indians count on their savings to fulfill their goals but the savings options are limited and come with their own set of challenges. Bank deposits give you a return that is less than the inflation rate, and mutual funds returns are not predictable," said Mayank Bishnoi, co-founder, Hubble.

India's fintech market has witnessed major changes throughout the pandemic period as digitization transformed the finance sector. According to a report by BCG and FICCI, India's fintech sector's valuation is expected to reach $150 billion by 2025.

Neeraj Tulsyan and Mayank Bishnoi, both IIT and ISB graduates, started Hubble to address the needs of these consumers. Hubble aims to enable and support millions of Indian consumers in making their lifestyle goals more affordable. With Hubble, consumers can start their rewarding savings journey by subscribing to saving plans with a monthly payment of as low as Rs 500. Brands in turn reward them with five times higher returns on their money than banks and mutual funds. Hubble has launched the beta version of its mobile application on android and iOS. Users can now download the app from the Play Store and App Store, and start their rewarding savings journey.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

Science & Technology

What Invention Would You Most Like to See in Your Lifetime?

According to a new Pew study, if you're like a lot of Americans, you'd like to own something that gets you places faster, lets you time-travel or somehow prolongs your life.

Business News

He Built a Personal Finance App That Manages $8 Billion for Half a Million Customers. Here Is the CEO of M1's Hard-Earned Advice for Future Founders.

On this episode of "The CEO Series," M1 founder and CEO Brian Barnes shares how his passion for investing led to the creation of this powerful personal finance app.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Branding

6 Tips for Successfully Communicating Your Personal Brand

Follow these simple guidelines to stand out from the crowd and effectively broadcast your own personal brand to the world.

Business Solutions

Save an Extra 20% on This AI-Powered Video Editing Tool

Give your video production a professional look with assistance from artificial intelligence.

News and Trends

Travel and Lifestyle Brand Mokobara Raises INR 100 Cr in Series B Led by Peak XV Partners

Bengaluru-based luggage brand Mokobara aims to use the raised funds to expedite retail and global expansions in FY24.