Nimbbl, a platform that enables one-click payments at checkout, has raised $3.5 million from investors including the financial services platform Sequoia Capital India, Groww and Global Founders Capital (GFC).
Other Angel investors in the fintech business include the Palo Alto-based angel group Amara VC, as well as executives like Kunal Shah (CRED), Amrish Rau (Pine Labs), Jitendra Gupta (Jupiter) and Prajit Nanu (Nium), and Srinivas Rao, a former senior executive at Mswipe also participated in the rounds.
With teams throughout Mumbai, New Delhi and Bangalore, Nimbbl wants to leverage the current investment to expand its proposition of facilitating commerce by growing its product and go-to-market capabilities.
Founded in October 2020 by former Citrus Pay and PayU executives Anurag Pandey and Amit Bansal, Nimbbl provides a one-click checkout solution on new-age payment methods helping merchants get higher conversions and revenues while reducing costs.
The startup said in a statement that the idea is to reduce payment failures, checkout abandonment, and subsequent falls in costs for merchants.It launched a product in September 2021 and since then the Mumbai-based startup claims to have onboarded over 4,000 online merchants in sectors such as direct-to-consumer (D2C), airlines, and utilities as clients and processed payments accounting for over Rs 2,000 crore in FY22. The payment-checkout firm takes a charge per transaction besides a minimal monthly fee from merchants.