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Livspace founder invests Rs 4 crore in fin-tech startup GroMo

The company plans to use the capital to strengthen its core technology and operations team.

June 12, 2019 / 05:28 PM IST

Ramakant Sharma, co-Founder of home decor startup Livspace has invested Rs 4 crore in Gurgaon based fin-tech platform GroMo.

The seed funding round also saw participation from Utsav Somani of AngelList India and other angel investors. The company plans to use the capital to strengthen its core technology and operations team.

The tech-enabled social commerce platform aims to provide access to financial products such as loans, insurance and investments to the underserved Tier 2 cities in India through GroMo partners.

It targets CAs, property dealers, travel agents and students to partner with the company and leverages their social network via WhatsApp, Facebook, Sharechat, etc., for sale of financial products to generate additional income for themselves.