In a major development in the Indian fintech space, newly-launched startup Bachatt has secured USD 4 million (~INR 34 crore) in a seed funding round co-led by Lightspeed and Info Edge Ventures. The round also drew participation from prominent industry leaders including Urban Company cofounder Abhiraj Bhal, L&T Finance’s Sunil Prabhune, OYO COO Abhinav Sinha, and OYO CSO Maninder Gulati.
The investment comes at a pre-revenue stage for the startup, which is preparing to fully launch its daily savings mobile application—currently in beta mode. According to Bachatt’s co-founder and CEO Anugrah Jain, the fresh capital will be utilized for scaling the platform, enhancing the product interface, and driving aggressive customer acquisition.
A Platform Built for the Underserved
Founded in November 2024 by Jain (ex-BCG), Ankur Jhavery (ex-OYO), and Mayank Agarwal (ex-Urban Company), Bachatt was conceived with a mission to build financial solutions tailored to India’s vast segment of self-employed and non-salaried individuals. The startup’s core offering allows users to invest as little as INR 51 per day or INR 1,001 per week through UPI into debt mutual funds, aiming to make disciplined saving both accessible and seamless.
Targeting individuals earning INR 30,000 to INR 70,000 per month, the app is designed for daily SIPs (Systematic Investment Plans), a first-of-its-kind approach in a space where traditional investment products often fall short for this demographic.
“We believe that India’s financial ecosystem has long overlooked the self-employed segment. There’s a significant opportunity in designing savings instruments that match their cash flows,” Jain said.
Rooted in Ground-Level Insights
The startup’s inception stems from Jain’s decade-long consulting experience with leading NBFCs during his time at BCG. Having worked with institutions managing books worth INR 14,000 Cr, Jain gained firsthand insight into the saving behaviors and constraints of India’s non-salaried population.
He observed that over 30 crore Indians currently rely on co-operative societies for basic financial services such as credit, insurance, and savings. Despite offering low returns and little flexibility
