Tech-enabled micro-savings platform Siply has acquired digital chit-fund entity myPaisaa for approximately ₹61.8 crores ($7.5 million).
Burgeon Law advised Siply - India ka savings on this acquisition.
The transaction team consisted of Roma Priya (Founder), Abhisshek Singlla (Associate Partner), Pranav Rao (Associate), Mishthi Seth (Associate) and Soumya Tantia (Associate).
The acquisition is expected to help Siply enhance its existing offerings through myPaisaa’s chit-fund distribution platform, enhance its customer base and build on the digital, sachet financial services proposition.
Founded in 2020 by Sousthav Chakrabarty and Anil Bhat, Siply-India ka savings is a micro-savings app that helps underserved masses invest across instruments such as digital gold and other financial assets. It also provides micro-credit along with other sachet-size financial products.
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