Bachatt Raises $12M Series A for India's Self-Employed

Fintech innovator Bachatt has successfully closed a $12 million Series A funding round, signaling strong investor confidence in its mission to serve India's vast non-salaried workforce. The investment, spearheaded by prominent venture capital firm Accel, saw continued support from existing backers Lightspeed and Info Edge Ventures. This capital infusion is earmarked for enhancing Bachatt's current savings products and developing a new suite of wealth management and credit solutions tailored for individuals outside the traditional employment structure.

The Indian financial services sector is witnessing a significant shift towards digital-first solutions, particularly for underserved demographics. With an estimated 300 million individuals operating outside the salaried class, this segment represents a substantial, yet often overlooked, market. Bachatt aims to tap into this opportunity, which is estimated to hold over INR 15 lakh crore in potential financial assets. The company's strategy focuses on building a comprehensive financial ecosystem that addresses the unique needs of merchants and self-employed professionals.

Founded in 2025 by Anugrah Jain, Ankur Jhavery, and Mayank Agarwal, Bachatt has already demonstrated considerable traction. Its platform simplifies investment in debt mutual funds, allowing entry with as little as INR 100. By partnering with leading asset management companies such as SBI Mutual Funds, ICICI Prudential, and Axis AMC, Bachatt offers accessible investment avenues. The platform's design accommodates the irregular income streams common among its target users, featuring flexible options like top-up investments, pause savings, weekend savings, and immediate withdrawal capabilities.

Bachatt is strategically expanding its offerings beyond basic savings. The company is integrating artificial intelligence to power its new wealth management and advisory services. A proprietary AI tool is being developed to analyze over 4,000 mutual fund schemes and market trends, aiming to provide data-driven investment recommendations. Furthermore, Bachatt plans to introduce credit solutions, providing essential working capital support to its user base, a critical need for many small businesses and self-employed individuals.

The startup's rapid growth is underscored by its recent performance metrics. Bachatt reported processing over 2 million mutual fund transactions in February alone, a testament to the platform's adoption and utility. This latest funding follows a successful seed round where the company secured $4 million from Info Edge Ventures and Lightspeed, laying the groundwork for its current expansion phase. CEO Anugrah Jain emphasized the company's ambition to create 5-6 distinct financial products specifically for the non-salaried segment, moving from debt instruments to comprehensive wealth and credit services.

Looking ahead, Bachatt has set an ambitious goal to grow its user base to 30 million individuals within the next 12 to 24 months. This expansion will be fueled by the new capital and the planned rollout of its enhanced product suite. The company's focus on a large, underserved market, combined with innovative technology and a user-centric approach, positions it as a significant player in India's evolving fintech landscape.