A Bengaluru-based startup, Simpl has raised a total of $40 million in funding in a funding round led by Valar Ventures and IA Ventures along with LFH Ventures and other investors. The founder and chief executive officer of Simpl said in her statement that the company is growing continuously and that they are planning to invest more in the further development of the platform.
The company was founded by Nitya Sharma and Chitra Chidanand. Simpl is a buy now pay later (BNPL) service platform. According to the reports, Simpl is among the top BNPL platforms in the market with the liquidation of more than 49 million loans. The platform has also recorded more transactions than Flipkart Pay Late, Amazon Pay Late, and Paytm Postpaid.