Grow money and win $1000 every week by saving and playing games
About Fello: Fello is a game based savings and investment application for the gen-z and young millennial of India to Save, Play and Earn returns more than a traditional savings bank account. We are merging the world of gaming and finance to build better financial profiles for our users and engage them into healthy finance through gaming. Founded by Manish Maryada and Shourya Lala, Fello has been incubated and funded by Entrepreneur First and a part of the CIIE.CO Bharat Inclusion Programme. Also, we are a Y Combinator backed company!
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Fello is India's first game-based savings and investment application for the gen-z and young millennials of India. We are merging the worlds of gaming and finance to make finance fun, easy and exciting. On fello, Users can start saving/investing in Digi-gold and for every rupee they save, they get gaming tokens. With these tokens, they can play fun games and get to win amazing weekly rewards. On one hand, their savings and investments grow over 7%, and on the other hand, they get the fun and excitement of gaming along with the partner-led rewards. They have raised $1M from Entrepreneur First, KubeVC, Upsparks, Ashneer Grover(BharatPe), Charlie Songhurst, Faiz Mayalakkara and Bala Parthasarathy(MoneyTap and Advisor of Forbes India) Fello is also one of the Ycombinator W22 companies and one of the 9 companies incubated by CIIE.CO of IIM-Ahmedabad as a part of their Fintech Inclusion Lab. We also partnered with ICICI prudential Mutual Fund and Augmont gold to be our fund/investment assets partners.
Just within 6 weeks of launch, Fello has over 250,000+ users of which 94% have been organic referrals, 80% within 18-25-year-olds, 85% first-time savers/investors and are growing at 30% WoW. We have 60% from Tier 1 cities and 40% from tier 2 cities. All of this is within India.
Future Growth and Scaling: By end of 2022, the company aims to scale to over 10M+ users and build a robust gaming and savings app with over 15+ games and over 15+ savings and investment options across Mutual funds, safe AIFs and cryptos. In the next 3 long years, their vision is to solve other problem statements of credit, insurance, financial inclusion, etc. through gaming and will be solving it by molding into a neo bank where the front end will be a gaming ecosystem and the back end will be a neo banking ecosystem and potential go global as we discovered several countries with similar problem statements. The company is bringing the success stories of Yotta Savings, Prizepool, Longgame, and Premium Bonds of the USA and UK to the Indian market to solve this massive problem in India.
The team is currently capitalizing on the virality of the product as we have over 94% referred users. But we are also executing our GTMs by partnering with the HR community, Financial Advisors and AMFI distributors, NBFCs and Banks to cross-sell our product, partnering with gaming companies, Digital Marketing and Influencer marketing. They have already cracked our partnership with ICICI Prudential Mutual Fund and in the long run, they are trying to explore a dedicated partnership to tap onto their distributor network. Currently, Fello is a team of 17 members and will shortly be a team of 25.
Manish Maryada, the CEO of Fello is a Finance grad from Texas A&M College Station and comes with 5+ years of experience across traditional finance and early-stage fintech startups like HSBC, Koinex and Flobiz where he was leading product, strategy, and operations and played a key role in scaling the company from x to 10 x. Shourya, the CTO, is a CS Engineer from Manipal University. He is a full-stack and cross-platform developer with close to 3 years of experience in building financial tools at BlackRock and also built several award-winning mobile applications.