Bachatt
Daily savings fintech platform for India's self-employed population
💼 What does it do?
Bachatt operates a daily savings platform that automates small-ticket investments for India's self-employed workforce. Users can start systematic investment plans (SIPs) with as little as ₹51 daily through UPI, investing in debt mutual funds from ICICI Prudential and SBI Mutual Fund.
The app handles everything from automated daily deductions to portfolio tracking, with instant withdrawal options. Think of it as making disciplined saving as easy as spending money through UPI, but specifically designed for people who earn daily but struggle with traditional banking products that assume monthly salaries.
🧑🚀 About the founder(s)
ABOUT THEM
• Anugrah Jain (CEO): Ex-BCG partner with 10+ years working with NBFCs, scaled ₹14,000 crore in combined loan books, IIM Ahmedabad graduate with deep understanding of non-salaried segment
• Ankur Jhavery (Co-founder): Ex-OYO executive with operational and scaling experience
• Mayank Agarwal (Co-founder): Ex-Urban Company with product and tech expertise
The trio brings together strategy consulting, operational scaling, and product development experience from tier-1 companies, plus crucially, direct experience serving the self-employed market.
THE BACKSTORY
During his decade at BCG (2014-2024), Anugrah worked extensively with leading NBFCs and noticed a glaring gap: while these institutions could serve self-employed individuals for credit, there were virtually no good savings products for people without regular salaries.
The team evaluated multiple investment vehicles (fixed deposits lacked daily flexibility, digital gold had taxation issues and fierce competition) before settling on debt mutual funds as the most stable, regulated option that could support daily micro-investments.
📊 Pricing and business model
Registered mutual fund distributor earning commission from fund houses (ICICI Prudential, SBI Mutual Fund) on successful investments. Revenue scales directly with user adoption and investment volumes. Plans to expand into lending products, fixed deposits, and credit cards once user base is established.
🚀 About this space
THE PROBLEM
India's 300+ million self-employed individuals (gig workers, micro-entrepreneurs, blue-collar workers) earn daily but face massive gaps in financial services. Traditional banks and fintech products assume monthly salaries and don't cater to daily income patterns. Existing savings options like cooperative societies offer poor returns (often below inflation) and lack flexibility.
The result? Most self-employed Indians struggle to save systematically despite having the discipline and desire to build wealth.
THE OPPORTUNITY
• ₹15+ lakh crore addressable market in India's self-employed financial services sector – massive underserved population that has been ignored by mainstream fintech focusing on salaried urban millennials.
• Daily savings could become the wedge into a full financial services suite including credit, insurance, and wealth management for this demographic.
• First-mover advantage in a space where most competitors either target different segments or have failed (like GoldPe).
ℹ️ Growthbuddy insights
INSIGHT #1
The genius of debt mutual funds: While competitors like Jar focused on digital gold (high taxation issues) or others on FDs (no daily flexibility) Bachatt chose debt mutual funds - giving users bank FD-like returns (7-8%) with complete liquidity and no lock-in. This creates a compelling value proposition that's both safe and flexible.
INSIGHT #2
Institutional trust as competitive moat: By partnering with household names like ICICI Prudential and SBI Mutual Fund (rather than newer fintech players) Bachatt builds immediate credibility with a demographic that values established institutions. The AMFI registration adds regulatory legitimacy that competitors might struggle to match.
INSIGHT #3
Daily income timing advantage: Most fintech savings apps assume monthly income patterns. Bachatt's daily SIP model matches how their target demographic actually earns money - this seemingly small product decision could be the difference between mass adoption and failure in this segment.
💛 Their culture
• Early-stage startup energy with experienced founders who've "seen this movie before" at scale.
• Likely moves fast with minimal bureaucracy given the 15-person team size.
• The fact they secured top-tier investors and institutional partnerships pre-revenue suggests a culture of execution and relationship-building.
• Probably suits people who thrive in ambiguous, fast-moving environments where you wear multiple hats and build things from scratch.
ℹ️ Career intel
GREEN FLAGS
• Experienced founding team with relevant sector expertise
• Strong institutional investors (Lightspeed, Info Edge) backing pre-revenue
• Stellar angel investor lineup including proven operators from Urban Company, OYO, L&T Finance
• Partnerships with top-tier financial institutions (ICICI, SBI) providing credibility
• Currently in beta with 18+ months runway from fresh funding
• Targeting massive underserved market ignored by mainstream fintech
• Product-market fit validation from established fund house partnerships
• First-mover advantage in daily savings for self-employed segment
POTENTIAL CONCERNS
• Very early stage - only 6 months old with product still in beta
• Customer acquisition costs could be high for this demographic
• Self-employed market can be challenging to serve (irregular income, lower digital adoption in some segments)
• Will need to prove unit economics work at scale
• Competition risk if larger players like PhonePe or Paytm enter this space
• Regulatory changes in mutual fund industry could impact business model
• Team will need to scale rapidly while maintaining product quality
WHY NOW
• Perfect timing to join a rocket ship: funded startup with experienced team, proven product-market fit signals (institutional partnerships), and 18+ months runway.
• You'd be employee #16-30 in a company targeting 20-30 million users - significant equity upside potential.
• This is what disruption looks like in 2025: not flashy consumer apps, but practical financial inclusion technology with immediate ROI for users.
📝 Interview guidance
• Demonstrate understanding of the self-employed market challenges - bonus points if you have personal experience with gig economy or small business finances.
• Show familiarity with debt mutual funds and why they're superior to alternatives for this use case.
• Ask thoughtful questions about customer acquisition strategy for Tier 2/3 cities.
• Discuss scaling challenges they might face going from 15 to 150+ employees.
• Express genuine interest in financial inclusion and democratizing access to wealth-building tools.
⚡️ Fast facts
FUNDING
$4 million seed round (March 2025)
INVESTORS
Lightspeed (lead - $2.8M), Info Edge Ventures ($1M), angel investors including Abhiraj Bhal (Urban Company co-founder), Sunil Prabhune (L&T Finance), Abhinav Sinha (OYO COO), Maninder Gulati (OYO CSO)
THE NUMBERS
• Target market: 300+ million self-employed Indians earning ₹30-70K monthly
• Minimum daily investment: ₹51 per day or ₹1,001 weekly
• Returns: 7-8% annually (equivalent to bank FD rates)
• Current valuation: ₹122 crores
• User target: 20-30 million users over next few years
• No lock-in period - instant withdrawals available
🔎 Overview
WEBSITE
FOUNDING YEAR
2024
INDUSTRY TAGS
Fintech, B2C, Financial Services, Mobile, SaaS
HEADQUARTERS
New Delhi, India
TEAM SIZE
0 - 50
COMPANY MISSION
Bridge the financial inclusion gap for India's 300+ million self-employed individuals by enabling disciplined daily savings through technology and trusted institutional partnerships