Fello is a savings and investment platform that offers users the opportunity to earn up to 15.5% annual returns through digital gold and peer-to-peer lending assets, while also providing a gamified experience with weekly rewards for saving. By addressing the low returns of traditional savings accounts, Fello enables users to grow their savings effectively while participating in a rewarding system that incentivizes consistent saving behavior.
Funding
$5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
ACCSEFFounders
Product
Problem
Traditional savings accounts offer low returns, failing to adequately grow users' savings and potentially discouraging consistent saving habits, especially among younger demographics. Existing investment platforms may lack the engagement and user-friendliness needed to attract and retain new investors.
Solution
Fello is a fintech platform designed to make saving and investing more rewarding and engaging, particularly for Gen Z and millennial users. The platform offers opportunities to earn higher returns than traditional savings accounts through investments in digital gold and peer-to-peer (P2P) lending assets. To incentivize consistent saving, Fello incorporates a gamified experience where users earn tickets for every ₹500 saved, which can be used to participate in weekly draws for rewards. This approach aims to make finance more accessible and enjoyable, encouraging users to save more effectively.
Target Audience
Fello primarily targets Gen Z and millennial users in India who are looking for more engaging and rewarding ways to save and invest their money.
Features
- Investment options in digital gold, backed by 24K 99.9% purity gold, offering a low-risk and easily withdrawable asset.
- Access to RBI-certified P2P lending assets providing consistent returns.
- Gamified savings experience with weekly reward draws based on the number of tickets earned through savings.
- Referral program that incentivizes users to invite friends and expand the Fello community.
- Mobile-first platform designed for ease of use and accessibility on the go.
- Fixed Deposits now available for secure, steady returns.