New Delhi, Oct 9 (IANS): Fintech startup Ippo Pay plans to primarily focus on Tier-2 and Tier-3 cities.
The company, which started its services in Chennai, is now planning to start operations in Coimbatore, Trichy, Madurai, and all other rural areas in Tamil Nadu.
"Our primary focuses are Tier-2 and Tier-3 cities because those are totally untapped markets," said Mohan K., the Co-founder and CEO of Ippo Pay.
On the impact of the pandemic on its business, Mohan said that since the company is an early-stage startup, it did not get affected by Covid-19 and it used those lockdowns to develop more products and scale up our technology.
"Things are getting better now, so now we are ready for marketing. We created good traction in the BETA," he said.
"We were in BETA in the last two months. Our main focus is to scale up the technology so we asked our known people to use our tech. We have Rs 1 crore worth of the transaction in BETA which is a good start for a fintech startup," Mohan said.
Regarding the fundraising plans, he said that the company is planning to raise a fund of around $500,000 in a seed round in the next six months.