Fello is a financial services company that has developed a platform for saving and investing. Customers can use the platform to save, invest, and make higher returns than they would with a traditional savings account. Fello was created to disrupt the ‘boring’ financial services and savings business by incorporating games into the savings process.
Fello’s CEO and co-founder is Manish Maryada. Maryada is in charge of developing and implementing a high-level growth-driven strategy, as well as establishing strategic partnerships and managing market dominance while providing innovation to the customer base.
He earned his B.Tech. in Mechatronics, Robotics, and Automation Engineering from the Mahatma Gandhi Institute of Technology.
He holds a Finance degree from Texas A&M University and has 5+ years of experience in conventional finance and early-stage fintech companies such as HSBC, Koinex, and Flobiz, where he was in charge of product, strategy, and operations and was instrumental in scaling the company from x to 10 x.
Manish Maryada and Shourya Lala established Fello in 2020, and it has been incubated and funded by Courtside Ventures, Entrepreneur First, Good Water Capital, and stellar angels such as Kunal Shah, Ashneer Grover, Charlie Songhurst, and others.
Fello has over 250,000+ users, with 94% being organic referrals, 80% being 18-25-year-olds, 85% being first-time savers/investors, and expanding at a 30% WoW. We have 60% from Tier 1 towns and 40% from Tier 2 cities. All of this is within India.
Manish Maryada and Shourya Lala, co-founders of Fello, met for the first time at EF in August 2020. In just three months, by October 2020, they had created an exceptional fintech start-up that uses proprietary games to convert Gen-Z gamers into financial investors. With their disparate skill sets and backgrounds – one a finance graduate from Texas A&M University with deep domain expertise in financial operations, strategy, and product, and the other a computer science engineer and award-winning app developer – both founders made the company’s journey exciting and seamless. Since the launch of the new product in the first week of November, the business has attracted 100,000+ users on the Fello app in just two weeks, with over 80% of the users being first-time investors.
Fello plans to use the financing to grow its young team, scale the product, and prepare for more game-based finance products to disrupt the nascent Indian finance space. The goal is to achieve a million users investing and playing on the app in the next three quarters by expanding into tier 1 and tier 2 markets throughout the nation.
Fello is also one of nine companies chosen for the CIIE Fintech Inclusion Programme 2021, which will help them accelerate their growth into tier 2 and tier 3 cities.
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