Social Security Startup Haqdarshak Closes Third Funding Round
The company had earlier raised an angel funding round as well as a pre-Series A round.
Haqdarshak Empowerment Solutions Pvt., a startup that helps individuals access government schemes via technology, has closed its third funding round.
The company said it has closed its pre-series A1 round, which saw participation from Shark Tank India investors Namita Thapar, Peyush Bansal, and Aman Gupta. The others were Indus Net Tech's Abhishek Rungta and Bhavin Pandya, co-founder and chief executive officer of Games 24X7.
New institutional investors include the Innovating Justice Fund and Village Capital's Financial Health Innovation Fund. They have joined the cap table along with 22 other investors.
The company had earlier raised an angel funding round as well as a pre-Series A round.
The Bengaluru-based startup is in the business of bridging the information and access gap between citizens and social protection services, both government and private, using technology and a last-mile field agent network of ‘Haqdarshaks’.
The company, which is present in 24 states, claims to have provided benefits worth over Rs 4,200 crore to over 27 lakh families.
"The funds from this round will be utilised for investment in tech and talent, with a focus on growing the company’s newest product, the Yojana Card. The product is a unique, digitally-enabled social security card for beneficiaries to access government schemes, social security, financial services, and other welfare services for their family and business via a single channel, enabled by last-mile support," the company said in a press release.
The current model of working with businesses and philanthropic organisations will continue to fund the company’s operational needs, it said.
