Mithi Software, a startup specializing in Software-as-a-Service (SaaS), and CapitalSetu, a financial services firm, announced on Wednesday that they have successfully obtained funding at an early stage.
Mithi
Mithi Software recently secured $500,000 (approximately ₹4.12 crore) in funding from Recur Club, a revenue-based financing company. However, the details of the funding round remain undisclosed. Mithi was founded by Tarun Malavia, and it specializes in providing Software as a Service (SaaS) tools that ensure the security, accessibility, and flexibility of vital business data. Until now, Mithi has been self-funded but intends to seek investment from venture capital firms in the near future.
According to Malavia, the expenses we paid upfront using Recur Club Financing helped them save money. He said, “Financial costs of raising capital through Recur Club are offset -were set off by the savings that we made through paying our expenses upfront with Recur Club Financing.”
CapitalSetu
CapitalSetu has also successfully secured a significant investment of $350,000 (equivalent to Rs 2.8 crore) in a seed funding round. The funding was primarily contributed by the Real Time Angel Fund (RTAF).
RTAF is a well-established investment fund that is known for its focus on supporting early-stage ventures. Many angel investors, like Ashish Kacholia from Lucky Securities, and Vikas Khemani from Carnelian Asset Advisors, participated alongside others during this funding round.
Founded by Ayushi Gupta and Pankaj Goel, this Noida-based firm acts as a financing organizer for small, micro, and medium-sized manufacturing firms. The firm plans to use the funds to develop products, international growth, and hire fresh blood.
According to Pankaj Goel, the founder and CEO of CapitalSetu, the supply chain financing market is highly competitive. However, their user-friendly platform, competitive pricing, and personalized approach have an edge over their competitors.