Fintech Startup Sqrrl Raises $1 Mn From Equanimity Venture Fund

App-based investment platform Sqrrl Fintech has raised $1 Mn in its Pre-Series A round of funding from Equanimity Venture Fund. The Gurugram-based startup plans to use the funding to invest in new age technologies, particularly machine learning and artificial intelligence, to sharpen its product recommendation and further smoothen its on-boarding process. Sqrrl app is aimed at helping young Indians to build the habit of savings and investments. It allows users to invest in high performing (zero-commission) mutual funds based on their investment needs, risk horizons and goals. The company claims to have amassed more than 150K download across Android and iOS. Over 76% of Sqrrl’s users are under the age of 35, and 61% of its user base is beyond the top 15 cities.

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