SwitchMe, India based Fintech startup has raised an undisclosed amount from investors including Mohandas Pai, Hiro Mashita and Singapore Angel Network. This round is being considered as an extension to the previous round which had seen participation from 500 Startups, Rajan Anandan and Ajay Sarupria.
Founded in 2012 by Aditya Mishra and Sourasis Roy, the startup helps the customers to switch their home loan to another lender with lower rate of interest. The implemented technology finds the best match, which results in a faster process leading to better conversion rates. Till date, the startup claims to have saved over INR 300 Crores for the customers.
The startup is currently working in 4 Indian cities including Mumbai, Delhi, Pune and Bangalore. With the raised investment, SwitchMe plans to implement better technology along with expanding to more cities across the country.
Speaking on the development, MohanDas Pai commented, “The tech driven approach of SwitchMe is very effective in providing best optimal solutions to the customers. Customers have been very satisfied using the solution as it saves a lot of their efforts along with reducing their tenure of the loan and other hidden costs”.