Mypoolin

paymentsmobile/digital wallet

STATUS: Acquired/Merged
FOUNDING YEAR: 2015
LOCATION: India
Last Update: 10/07/2020

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About

Mypoolin is a social payments company that enables seamless payments collection, settlement and planning among a group of friends for daily use cases. The concept is split into two parts, the first one being - 'Split & Settle' where it helps you in sending and receiving money instantly from any bank to any bank just by using a mobile number. And the second one being 'Plan & Pay' part where you can chat and pay together for daily use cases such as movies, events, dining, travel, gifting, deals and more. Covering the whole process from in-app recommendations to chatting to splitting and paying as a group to finally purchasing on the app, the product is one of its kind.

MEDICI Analysis

MyPoolin was acquired by Wibmo in March 2018, it enables a user to plan and pay with friends in the smartest and fastest manner possible for all the purposes that come during these phases. Their goal is to make sure that whenever a user is collecting money as a group, the process remains convenient and simple both on the web and the mobile.

Focus

PRODUCTS & SERVICES

MyPoolin App for group payments social network. Its app offers a way to pool money from a group without the hassle of constant and embarrassing follow-ups and reminders.

REVENUE MODEL

Mypoolin is free for consumers. The company earns money via commissions from our partner merchants when our users purchase their vouchers from our product.

MAIN CLIENTS

Social groups

EXISTING PARTNERSHIPS

It has around 90+ partner brands such as Amazon

Jabong

PVR

MakeMyTrip

goibibo

ezeego

musafir

Open with smile

peppercloset etc. It provide multiple payment options to their users through payment partners - Paytm

Payu

Mobikwik

Paypal

Oxigen

PRIMARY PROBLEM SOLVED

- Fast and simple P2P payments from any bank to any bank - Making group plans and sharing money for any daily activity

INTELLECTUAL PROPERTY

Patent(s) FILED

COMMENT

MyPoolin app helps users to plan and pool/collect money for purchases or other requirements.

Traction

REVENUE

$100k - $499

REVENUE COMMENT:

For first four months

TRANSACTIONS VALUE:

800 K

ACTIVE USERS:

110000

People

FOUNDERS

Rohit Taneja

Ankit Singh

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Amit Ranjan

Arjun Malhotra

Gautam Gandhi

Investopad

Qualcomm Ventures & Accel Partners

Rajan Anandan

Sharad Sharma

Steve Sue

Sunil Kalra

COMMENT:

Well balanced, diverse,talented bunch of eager,young folks

Momentum

FUNDED

YES

TOTAL FUNDING

$250 K

DATE OF LAST FUNDING

Sep 2015

TOTAL FUNDING COMMENT

plus undisclosed

SEED CLOSED ON

Jun 2015

CONVERTIBLE DEBT

$250 K

LISTED

NO

For Investors

FUNDING NEEDED:

$1.5 M

USES OF FUNDS RAISED:

1. Growth

2. DIstribution

MONTHS LEFT WITH CURRENT CASH BURN RATE:

6 months from 22 Mar, 2017

COMPETITORS:

Money Messenger

Innovation Programs

BASICS

STATUS:

Acquired/Merged

FOUNDING YEAR:

2015

LOCATION:

India

Views:

122 VISITORS | 211 VIEWS
LATEST FUNDING ROUND

$250 K

TOTAL EMPLOYEES
11-50

About

Mypoolin is a social payments company that enables seamless payments collection, settlement and planning among a group of friends for daily use cases. The concept is split into two parts, the first one being - 'Split & Settle' where it helps you in sending and receiving money instantly from any bank to any bank just by using a mobile number. And the second one being 'Plan & Pay' part where you can chat and pay together for daily use cases such as movies, events, dining, travel, gifting, deals and more. Covering the whole process from in-app recommendations to chatting to splitting and paying as a group to finally purchasing on the app, the product is one of its kind.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

MyPoolin was acquired by Wibmo in March 2018, it enables a user to plan and pay with friends in the smartest and fastest manner possible for all the purposes that come during these phases. Their goal is to make sure that whenever a user is collecting money as a group, the process remains convenient and simple both on the web and the mobile.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

Innovation Programs

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack

Mypoolin

About

Mypoolin is a social payments company that enables seamless payments collection, settlement and planning among a group of friends for daily use cases. The concept is split into two parts, the first one being - 'Split & Settle' where it helps you in sending and receiving money instantly from any bank to any bank just by using a mobile number. And the second one being 'Plan & Pay' part where you can chat and pay together for daily use cases such as movies, events, dining, travel, gifting, deals and more. Covering the whole process from in-app recommendations to chatting to splitting and paying as a group to finally purchasing on the app, the product is one of its kind.

Focus

PRODUCTS & SERVICES

The product is split into two parts, the first one being - 'Split & Settle' where it helps you in sending and receiving money instantly from any bank to any bank just by using a mobile number. And the second one being 'Plan & Pay' part where you can chat and pay together for daily use cases such as movies, events, dining, travel, gifting, deals and more.

REVENUE MODEL

Mypoolin is free for consumers. The company earns money via commissions from our partner merchants when our users purchase their vouchers from our product.

TOP PROBLEM SOLVED

- Fast and simple P2P payments from any bank to any bank - Making group plans and sharing money for any daily activity

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

KEY DIFFERENTIATORS

* Extremely low cost P2P infrastructure (Rs. 1 per transaction for company, free for customer) * Social and fun way to make payments with friends directly into their bank accounts * Instant payments to any bank in the country, just by using the mobile number of a person

PRIMARY CUSTOMER TYPE

Enterprise - Retailers

Small and Medium Business - Physical Retail

Small and Medium Business - Online Retail

Consumer

STRATEGIC CLIENTS AND PARTNERSHIP

Yes bank : Payments Processor

ICICI Bank Limited : Banking Partner

People

FOUNDERS

Rohit Taneja

Ankit Singh

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO, FOUNDER: Rohit Taneja

CTO: Rohit Taneja

CMO, FOUNDER: Ankit Singh

COO: Ankit Singh

CRO: Ankit Singh

TEAM COMMENT:

Well balanced, diverse,talented bunch of eager,young folks

INVESTORS:

Amit Ranjan

Amit Ranjan

Amit Ranjan

Amit Ranjan

Amit Ranjan

Arjun Malhotra

Gautam Gandhi

Investopad

Investopad

Investopad

Investopad

Qualcomm Ventures & Accel Partners

Rajan Anandan

Rajan Anandan

Rajan Anandan

Rajan Anandan

Rajan Anandan

Sharad Sharma

Sharad Sharma

Sharad Sharma

Sharad Sharma

Sharad Sharma

Steve Sue

Sunil Kalra

Sunil Kalra

Sunil Kalra

Sunil Kalra

Sunil Kalra

Momentum

FUNDED

YES

TOTAL FUNDING:

$750 K

LISTED

NO

FUNDING SERIES
Seed Sep 2015 --- USD375 K Accel Partners Seed Sep 2015 --- USD375 K Comment on Seed USD 250000 part of QPrize 2015. And USD 125000 (earlier one) part of Angel Round of 2015 Accel Partners Qualcomm Ventures