Indian fintech startup Bachatt has raised US$4 million in seed funding to address the financial needs of India’s growing self-employed workforce. With backing from Lightspeed and Info Edge Ventures, Bachatt targets a gap in financial tools for self-employed individuals, focusing on small daily investments for those with irregular income patterns.
Indian fintech startup Bachatt has raised US$4 million in seed funding to support its mission of empowering India’s growing self-employed workforce. The funding round was co-led by Lightspeed and Info Edge Ventures, with Lightspeed contributing US$2.8 million and Info Edge Ventures investing US$1 million.
Founded in November 2024, Bachatt was created by Anugrah Jain, Ankur Jhavery, and Mayank Agarwal with the aim of addressing the financial challenges faced by self-employed individuals. The company focuses on providing tailored financial tools and small daily investments, ranging from INR 100-200, designed to fit the irregular income patterns of workers who do not have access to structured financial benefits typically offered to salaried employees.
The self-employed workforce in India has seen a notable rise, growing from 52.2% in 2017-18 to 58.4% in 2023-24, according to the latest Economic Survey. This structural shift has created a significant market gap for financial tools that cater to this group, which often lacks the same access to savings, loans, and insurance as salaried workers. Bachatt’s solution focuses on small, manageable investments to help individuals in the INR 30K-70K monthly income bracket build financial stability, especially in light of India’s rapid entrepreneurial growth supported by government initiatives like Mudra Yojana.
Despite the challenges posed by India’s current economic conditions, including a 5.4% GDP growth rate in Q2FY25, the fintech sector remains robust. Investor confidence in fintech continues, with over $2.5 billion invested in fintech startups in 2024 alone. Bachatt’s seed funding round, achieved at the pre-revenue stage, highlights the sector’s resilience and investor willingness to back innovative solutions that target specific gaps in the market.
The involvement of Lightspeed, Info Edge Ventures, and individual operators from successful startups like Urban Company and OYO brings strategic value to Bachatt’s growth plans. With fintech investments continuing to show strong growth in India, the startup is poised to make a significant impact by addressing the financial needs of a demographic that represents nearly 60% of the workforce.
