[Funding alert] PiggyRide raises Rs 14 Cr in pre-Series A from JAFCO Asia and Artha Ventures

In November 2019, PiggyRide had secured Rs 7.5 crore from JAFCO Asia and angel investors including InMobi Founder Naveen Tewari and Livspace co-founders Ramakant Sharma and Anuj Srivastava.

PiggyRide, the Bengaluru-based one-stop app for parents, has raised Rs 14 crore in a pre-Series A funding round from JAFCO Asia, along with new investor Artha Venture Fund. 

Manish Tewari, Founder and CEO, PiggyRide said,

“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 PiggyFinance have seen a strong resonance with our existing parent audience, who are also now strongly recommending the platform to their peers.”

The company said it 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 superior experience for their child’s needs. 

Image Source: Shutterstock

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 nine years of experience of working closely with startups like Ola, Koovs, and many more. 

The company runs three products — PiggyRide, PiggyDiscovery, and PiggyFinance. PiggyRide provides transport solutions to kids aged two to 18, while PiggyDiscovery offers parents and kids a platform to browse and book from more than 10,000 courses and extracurricular interest-based activities. 

Keeping in mind the financial stress caused by the COVID-19 pandemic and the subsequent lockdown, PiggyFinance assists parents with lesser one-time disposable income to pay off their kid’s school fees in easy instalments. PiggyFinance has tied up with 30 lenders to sanction education loans within minutes.

“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.
Edited by Kanishk Singh


Updates from around the world