PiggyRide, the one-stop app for parents, has raised Rs14 crore in pre-series A investment from JAFCO Asia, along with new investor Artha Venture Fund. The company runs three products, PiggyDiscovery, which offers parents and kids a platform to browse and book from more than 10,000 courses and extracurricular interest-based activities.
The platform also supports live classes. Keeping in mind the financial stress caused by Covid-19, the company has also launched PiggyFinance, a financing platform that assists parents with lesser one-time disposable income to pay off their kid’s school fees in easy installments.
“Over the last six months, we have worked tirelessly to create an ecosystem of trusted curated services which help make parents’ life hassle-free and flexible. Our two latest products PiggyDiscovery and Piggy Finance have seen a strong resonance with our existing parent audience, who are also now strongly recommending the platform to their peers.
COVID-19 has further accelerated the need for parents to think more deeply about their child’s academic, extracurricular, and mental wellness needs, while at the same time, seek support in payment of school fees to ease out the financial burden. With this new cash raised, we are humbled by the trust our existing investor JAFCO Asia, as well as new investor Artha Venture Fund has put in our team,” said Manish Tewari, CEO and Founder, PiggyRide.
The company plans to invest the capital raised to scale its product and engineering team, while also going deeper into existing categories within the marketplace to provide parents with the most superior experience for their child’s needs.
“We are excited to partner with Manish and the entire team to build one of India’s fastest-growing marketplace for parents - which is a big gap in the Indian market today. The team’s prior deep execution experience is visible by the customer love we saw for them by both parents, as well as educational institutes,” said Vinod Keni, Growth Partner, Artha Venture Fund.
“PiggyRide is seen as a long term partner to both parents, and educational institutes alike, which is big defensibility in a consumer business. We are proud to see the company scale and execute even during the pandemic with an exceptional response. We are very bullish on the company’s two latest product launches in the financial services and education space, which are aimed at making the PiggyRide a full-stack ecosystem for parents to give their children a holistic development experience,” said Supriya Singh, Director, JAFCO Asia.
PiggyRide is founded by serial entrepreneur Manish Tewari, an IIT Varanasi alumni who previously co-founded Koovs and Pokkt, along with Rohan Kaushal an IIT Delhi Alumni with over 9 years of experience of working closely with startups like Ola, Koovs and many more.