New Delhi, May 30 (IANS): Social finance-based neo bank SaveIN aims at market expansion and product development after its recently completed pre-seed funding round.

The company, which has not disclosed the funding amount, got investments from a number of Indian and international angel investors and industry leaders across banking, consulting, blockchain, and fintech.

"The company is looking to use recently-raised funds to expand its market reach, accelerate product development, and strengthen its in-house team. We aim to reach over five lakh users by the end of this fiscal year," founder and CEO Jitin Bhasin said.

"We want to positively impact the financial health of Indians, by leveraging their own trusted network and providing access to need-based and contextual financial products," he added.

The company launched the beta phase of its operations in April 2021 and Bhasin said that as part of its growth plans, SaveIN aims to offer a full scale, hyper-personalised, financial experience to its customers in association with partner institutions like banks, insurance and mutual fund companies, thereby offering a comprehensive suite of products and services in the retail personal finance domain.