HYPD Store, PayMe India raise funding

HYPD Store, PayMe India raise funding
Photo Credit: 123RF.com
12 Feb, 2021

HYPD Stores, a content-first ecommerce discovery platform, has raised an undisclosed sum in a strategic pre-seed investment from digital media company ScoopWhoop.

ScoopWhoop, operational since 2013, says its platform has 30 million unique active users. It owns properties including the eponymous flagship portal, ScoopWhoop Hindi, ScoopWhoop Sketches, OK Tested, and Unscripted.

HYPD Store, operated by Hypd Marketing Technologies Pvt Ltd, was set up last year by Ashwarya Garg and Akshay Bhatnagar. The two previously worked with companies including Zo Rooms and Innov8 Coworking.

HYPD Store, targeted at millennials and Gen-Z, works with direct-to-consumer brands and influencers to publish edutainment-focused content that addresses the gap between product discovery and purchase.

PayMe India

PayMe India, a financial-technology startup that focuses on loans to salaried professionals, has raised an undisclosed sum as part of a pre-Series A funding round.

Noida-based PayMe India has raised this capital from a clutch of angel investors based in Singapore and Dubai, it said in a statement.

This infusion comes after the company in 2018 raised $2 million (around Rs 13 crore). 

PayMe India, operated by Huey Tech Pvt Ltd, was set up in 2016 by Mahesh Shukla. The startup says it provides loans on a short and long-term basis. It also provides loan advisory services.

The firm will use the capital raised in this pre-Series A round to augment its paid-up and authorised share capital, as well as to expand.