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Social Planning And Payments Network, MyPoolin Raises Seed Funding

Mobile based peer-to-peer and group payments social network, which helps people make plans and pool money together for movies, events, parties, group-gifting and trips, through a simple and intuitive app while killing uncomfortable “You Owe Me” situations.Mypoolin

Incubated by Investopad since inception, MyPoolin has raised seed-funding from a group of angels: Sharad Sharma (iSPIRT), Rajan Anandan (MD Google India), Sunil Kalra, Amit Ranjan (Co-Founder – Slide Share), Rohan & Arjun Malhotra (Investopad), Jaspreet Bindra (ex-Microsoft, AskMe), Gautam Gandhi (ex-Google), Steve Sule and Gagan Dugal (Matrix Cellular).

Launched in mid-May on the Android Play Store, MyPoolin rocketed to the Top 10 new free apps in its category just 3 days after launch.

Founded in January 2015, by Ankit Singh (alumni of Delhi College of Engineering and FMS Delhi) and Rohit Taneja (alumni of IIT Delhi and formerly worked with Sony in Japan) MyPoolin launched as a web app initially and quickly gained traction on the website hitting INR 10 Lakh in revenue in its first 4 months. The new Android app brings the planning and payments solution to a mobile audience in a seamless manner.

MyPoolin : How Does It Work

MyPoolin’s flow is simple – A user (or “pool organiser”) shares a plan for movie, gifting, or events etc with friends, who can then discuss and vote/opt in-out within the app.

Once everyone decides whether they’re in or out or a plan is finalised, users can seamlessly pay their share using any mode of payment and if they link a wallet like Mobikwik with the app, it gets debited automatically making the whole process instantaneous. The pool organiser then simply redeems the pooled money through a transfer to their bank account or online on merchants such as Amazon, Jabong, PVR, MakeMyTrip etc.