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Kotak Securities Announces Its Investment In Fintech Startup Multipl

Multipl has partnered with leading brands and its users can save more money with these brands for future spending

Photo Credit : Bloomberg


Kotak Securities (KSL) on Thursday announced its investment in a fintech startup Multipl as part of the USD 3 million pre-series a round along with other investors.

Multipl is a platform that encourages people to save money for short-term goals. The fintech firm is creating a new category all together – “Plan Now Pay Smarter” aka “Save Now Buy Later” for its users. Founded by serial entrepreneurs, Multipl has developed and launched an app that works in contrast to BNPL (Buy Now Pay Later). 

Shripal Shah, President and COO, Kotak Securities said “Indians have traditionally been savers. Multipl, through its embedded shopping experience, has created an interesting category all together to incentivise people to plan their spending in advance.” 

Paddy, Co-Founder & CEO, Multipl said, “Multipl is pioneering the idea of saving for a future expense in a way that is not only financially superior but is also exciting and rewarding. It is a great validation for us to have the backing of Kotak, one of the most trusted brands in India when it comes to finance. With this support, we are poised to create a new category that is going to positively impact Indians in the waythey save and spend.”

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Kotak Securities Ltd (KSL) Multipl