CirclePe Secures $1 Mn in Pre-Seed Funding Round

Fintech startup CirclePe has successfully raised close to $1 million in its pre-seed funding round, spearheaded by OTP Ventures. The round also saw participation from notable investors including 1947 Rise, iSeed, IIT Delhi, Venture Catalyst, and key figures from OfBusiness, BharatPe, Uni Cards, and OYO.

Founded by Navan Jaiswal and Ankur Yadav, CirclePe aims to revolutionize the rental market with its innovative ‘Smart Renting’ solution. This service allows credit-worthy tenants to move in with zero security deposits, offering the convenience of paying only their monthly rent without additional charges.

CirclePe’s strategic partnerships with major proptech companies enable the implementation of this smart renting feature for independent retail landlords and co-living operators, ensuring a seamless and hassle-free rental experience. By eliminating hefty security deposits traditionally required from tenants, CirclePe is unlocking capital for landlords and co-living operators, aiming to disrupt the conventional rental value chain.

Suhail Sameer, former CEO of BharatPe, is serving as the managing partner at OTP Ventures. According to media reports, OTP Ventures is also looking to close its debut fund at Rs 400 crore by June.

CirclePe’s innovative approach and the recent influx of funds position the startup to significantly impact the rental market, providing financial relief to tenants and new opportunities for landlords and co-living operators.

Disclaimer: This information is covered based on the latest research and development available. However, it may not fully reflect all current aspects of the subject matter.

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