Nimbbl founders Amit (left), Anurag (right)
Fintech company Nimbbl said on Tuesday that it raised $3.5 million in funding from Groww, a financial services platform, Sequoia Capital India and Global Founders Capital (GFC).
Nimbbl’s other investors include Amara VC, an American angel collective, Cred founder Kunal Shah, Pine Labs CEO Amrish Rau, Jupiter founder Jitendra Gupta, Nium founder Prajit Nanu, and former Mswipe senior executive Srinivas Rao.
The Mumbai firm was founded in October 2020 by former Citrus Pay and PayU executives Anurag Pandey and Amit Bansal. It helps businesses increase customers and revenue while reducing costs. Nimbbl, which has teams in Mumbai, New Delhi and Bangalore, will use the funding from the seed and pre-Series A rounds to strengthen its product and market capabilities.
“Payment failures and payment abandonment due to bad consumer experiences are key reasons for lost revenue for businesses,” said Pandey, co-founder of Nimbbl. “Our technology enables merchants to personalize the checkout experience for their consumers, resulting in 40% more checkout initiations. This translates to more than a 6-8 percent increase in revenue.”
More than 4,000 merchants use Nimbbl’s one-click payment solution. offering customers a better Unified Payment Interface (UPI) and Buy Now Pay Later (BNPL) experience.
“With us, merchants of all sizes get an ecosystem to manage payments, offers, payment aggregators, and settlements through one dashboard,” said Bansal, another Nimbbl co-founder.
A BCG report recently said that Indian digital payments will be worth $10 trillion by 2026, when two out of three transactions in the country will be done digitally. The total value of digital payments in 2021 was $3 trillion. Consumer payments to merchants and the government, as well as business-to-business payments, will contribute around 40-45 percent of this volume.
First posted: Mar 28 2023 | 2:38 PM IS
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