Siply Services
Siply Services is an Indian fintech offering a mobile micro-savings platform that enables underserved populations to save from ₹1 per transaction, access micro-lending, and invest in mutual funds through vernacular, product-led distribution. The Bengaluru-based company serves over 6 million users across India.
- Company typePrivate
- Founded2020
- HeadquartersBengaluru, India
- Headcount51–100
- GTM typeB2C
- OfferingSoftware
What Siply Services does
Siply Services Private Limited is an Indian fintech founded in 2020 and headquartered in Bengaluru that operates a mobile-first micro-savings platform targeting underserved Indian consumers ("inclusive Bharat"). Its core product, the Siply app, enables users to save from as little as ₹1 per transaction, with features including goal-based savings, dynamic savings tied to earnings, instant withdrawal, and vernacular language support across all Indian regional languages. The company has also extended into micro-lending and mutual fund distribution, the latter enabled by its AMFI-registered distributor status (ARN-171848). In February 2023 it acquired the myPaisaa platform from Finsave Technologies for $7.5 million to consolidate digital financial services offerings.
The underlying technology is a self-serve mobile application with digital onboarding, vernacular UX, and integration into payment and investment rails sufficient to support micro-transactions and instant withdrawals. Distribution is predominantly product-led through app store downloads for individual consumers, supplemented by a demo-based enterprise onboarding flow for team/employer distribution. Revenue is generated via transaction-based fees on micro-investments, micro-lending services, and mutual fund distribution commissions — a model dependent on volume rather than per-user ARPU.
Commercially, Siply has raised approximately $23.2M across seed and pre-Series A rounds (notably $19M led by QI Ventures in June 2022) and serves over 6 million users as of mid-2022. Its go-to-market targets the 40+ Crore underserved Indian population underserved by traditional banks due to high minimum deposits, limited regional language support, and low financial literacy. The company has received recognition including the IIM Bangalore Fintech Cohort 2020 selection and the YCC 2020 Future Stars Startup Competition win, and operates with 51–100 employees.
Siply Services firmographics
Firmographics- Name
- Siply Services
- Legal name
- Siply Services Private Limited
- Website
- https://siply.in
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Siply Services is an Indian fintech offering a mobile micro-savings platform that enables underserved populations to save from ₹1 per transaction, access micro-lending, and invest in mutual funds through vernacular, product-led distribution. The Bengaluru-based company serves over 6 million users across India.
- Ownership category
- akta.pro rank
Siply Services industry classification
Industry- Product category
- Micro-savings & Micro-investment Platform
- NAICS
- Open-End Investment Funds (525910), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Finance Services (6199), Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Microfinance & Community P2P Lending (FSAKAHAD)
- akta.pro secondary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
Keywords
Where Siply Services is headquartered
LocationHeadquarters
- HQ city
- Bengaluru
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Siply Services business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Micro-investment products: Revenue generated from micro-investment products offered to underserved customers
- Micro-lending services: Lending services provided to customers with small ticket sizes
- Mutual fund distribution: Mutual fund investments offered through the platform (ARN-171848)
Go-to-market motion1 record
Distribution channels2 records
Marketing channels2 records
Siply Services product offering
Product offeringCore offering
Siply is a mobile-first micro-savings and micro-investment application enabling deposits as low as ₹1 per transaction for underserved Indian consumers. The platform offers goal-based savings dynamically linked to user earnings, instant withdrawal, vernacular language support across all regional languages, and distribution of mutual funds and micro-lending products. It targets over 40 Crore under-served Indians with frictionless digital onboarding, serving more than 6 million users as of June 2022.
Product overview
Siply is a micro-savings platform and mobile application for inclusive Bharat, serving over 40 Crore under-served Indians. The core offering is the Siply app enabling frictionless savings starting at ₹1, with features including goal-based savings, vernacular language support, instant withdrawal, and micro-investment products. In February 2023, Siply acquired the myPaisaa platform from Finsave Technologies for $7.5 million, expanding its digital financial services portfolio to promote saving habits and enhance financial inclusion across India. The company serves over 6 million users and offers both enterprise and individual solutions.
Differentiator
Problem solved
Functional benefit
Products and services
- Siply Mobile App Mobile-first micro-savings and micro-investment application enabling individuals to save as little as ₹1 per transaction, with goal-based savings dynamically linked to earnings, instant withdrawal, vernacular language support, and access to micro-investment and mutual fund products. Targeted at underserved Indian consumers.
- myPaisaa Platform Micro-savings fintech platform offering digital savings and investment services, acquired from Finsave Technologies and combined with Siply to enhance digital financial inclusion across India.
- Enterprise / Team Savings Program Dedicated enterprise offering ("Get Siply for Team") that allows employers to provide micro-savings and financial inclusion access to their employees via Siply, with demo-based onboarding completed in under 30 minutes.
Companies that use Siply Services
Customer profileSegments1 record
Ideal customer profiles2 records
Siply Services technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Siply Services partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Finsave Technologies (myPaisaa)coreAcquired myPaisaa platform from Finsave Technologies for $7.5 million in February 2023. Strategic acquisition to combine strengths and expand digital financial services and promote saving habits in India.
- IIM BangalorecoreSelected for IIM Bangalore Startup Incubation Program Fintech Cohort 2020. Provides strategic mentorship and support from premier Indian business school.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
Siply Services competitors and assessment
Company assessmentDirect peers
- Jar: India-based micro-savings app that lets users save spare change in digital gold. Same target segment (Bharat/underserved), same ₹1-level minimums, and same vernacular-led mobile onboarding as Siply.
- Spenny: Micro-savings and financial-planning app targeting young Indians with goal-based saving. Closely comparable product surface (goal-based savings, micro-investments) and customer segment.
- Deciml: Micro-savings app that rounds up transactions and invests the difference. Operates in the same low-ticket savings category serving Indian consumers with similar vernacular, mobile-first UX.
Broad incumbents
- Jupiter Money: India-focused digital banking and savings super-app. Overlaps with Siply on consumer savings and mutual-fund distribution but serves a broader, more affluent urban audience and offers more banking features.
- Fi Money: Digital savings and money-management app backed by major investors. Competes for the same mutual-fund-distribution and consumer-savings wallet share but positioned more towards salaried, urban customers.
- INDmoney: Personal finance super-app aggregating mutual funds, stocks, and savings products for Indian consumers. Comparable product breadth around savings and fund distribution, with broader wealth offerings.
- Niyo Solutions: Digital banking and savings platform for Indian consumers and travelers. Comparable consumer deposit and savings proposition, though distribution focuses more on banking partnerships than micro-savings.
- Groww: India's largest retail mutual-fund distribution platform. Overlaps with Siply's mutual-fund-distribution revenue stream (ARN-171848 equivalent) and shares the same vernacular mobile-led onboarding play.
Emerging players
- KreditBee: India's leading digital micro-lending platform serving salaried and self-employed borrowers. Direct overlap with Siply's micro-lending revenue stream and shared customer demographic of underbanked Indians.
- CASHe: Digital lending and personal finance platform targeting young Indian professionals. Comparable transaction-fee lending model and partial overlap on underserved Indian borrowers.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Siply Services social profiles
Digital presenceSiply Services compliance and trust
Trust signalCompliance1 record
Siply Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
Siply Services leadership team
Management profileNumber of profiles
Profiles1 record
Siply Services subsidiaries and ownership
Company hierarchySubsidiaries1 record
Siply Services funding detail
Funding detailFunding overview
Funding rounds4 records
Investors9 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Siply Services M&A and investment
M&A and investmentM&A1 record
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Siply Services
What does Siply Services do?
Siply is a mobile-first micro-savings and micro-investment application enabling deposits as low as ₹1 per transaction for underserved Indian consumers. The platform offers goal-based savings dynamically linked to user earnings, instant withdrawal, vernacular language support across all regional languages, and distribution of mutual funds and micro-lending products. It targets over 40 Crore under-served Indians with frictionless digital onboarding, serving more than 6 million users as of June 2022.
Is Siply Services a public or private company?
Siply Services is a private company. It is classified as venture growth investor backed and is currently operating.
When was Siply Services founded?
Siply Services was founded in 2020. It employs 51 to 100 people.
Where is Siply Services based?
Siply Services is headquartered in Bengaluru, India, in the Asia region.
How does Siply Services make money?
Three revenue lines are on record. Micro-investment products are the primary driver. The others are micro-lending services and mutual fund distribution.
Who are Siply Services's main competitors?
Direct peers on record are Jar, Spenny and Deciml. Broad incumbents are Jupiter Money, Fi Money, INDmoney, Niyo Solutions and Groww. Emerging players are KreditBee and CASHe.
Does Siply Services have an API?
No public API is recorded for Siply Services.
What industry is Siply Services in?
Siply Services's product category is Micro-savings & Micro-investment Platform. Its primary akta.pro industry code is FSAKAHAD, Microfinance & Community P2P Lending, with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 525910 and its SIC code is 6199.