Fello is a gamified savings platform founded in 2021 by Manish Maryada and Shourya Lala and based in Bengaluru. The core product uses gaming mechanics to incentivise users to save and grow their money with returns higher than traditional savings accounts. The company says it has a user base of over 500,000, with 72% of customers coming organically through referrals. Raised capital will be used to develop unique gamified financial products, hire talent, and expand its user base in Tier I and II Indian cities. Fello has set a target of reaching five million users by December 2023. Leadership frames the opportunity as bridging financial literacy and investing through a fun, gamified experience for Indian customers. Fello is a game-based savings and investment application that enables users to save and invest in assets such as digital gold while earning gaming tokens for every rupee invested. Users can spend tokens on in-app games like cricket and tambola to win weekly prizes, positioning the product at the intersection of gaming and finance. The company says it has attracted more than 100,000 users within two weeks of launch, with 80% being first-time investors, 60% reinvesting, and 94% acquired via organic referrals. Fello plans to use new funds to hire employees, scale the product, and enhance technology to build more game-based finance products. Management aims to expand its user base to 1 million investing and playing on the app within the next three quarters and to deepen penetration into tier 1 and tier 2 Indian cities. The company was founded earlier this year by Manish Maryada and Shourya Lala and was selected among nine companies for the CIIE Fintech Inclusion Programme of 2021.

Total raised

$5M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2023