MoneyyApp, a FinTech app helping creators to manage their business has raised an angel round from a clutch of angel investors led by GSF Accelerator. Angel investors participated in the round are IndiaMart’s founder Dinesh Agarwal, Nazara Technologies’ founder Nitesh Mittersain, Amit Singhal of Fluid Ventures, Sumesh Menon of U2opia Mobiles, Pras Hanuma and many others.
MoneyyApp is based out of Chandigarh and Bengaluru, founded in December 2021 by Fayyaz Hussain, Mohit Goyal and Aaditya Goyal to help Indian content creators improve their monetisation by providing tools to enhance their business.
The fintech said it would use the funding to expand its operations, work on product development and create awareness around the application. The startup’s target audience is the millions of creators making content on various social media platforms but majorly from Youtube.
Since its existence, MoneyyApp has already onboarded around 3000 creators on its platform.
MoneyyApp’s co-founder and CEO, Fayyaz Hussain, said,” Our mission is to provide the best service to the creator and motivate underrated and growing creators. We are passionate about solving all the pain points of creators related to finance with our advanced technology. The funding from the GSF accelerator would help us provide the much-needed mentoring and ability to work on product development.
Rajesh Sahwney, Founder of GSF Accelerator, said,” MoneyyApp is building a new age Fintech platform: a bridge for creator economy to move from Web 2.0 to Web 3.0. Web 2.5 is here.”
MoneyyApp’s cofounder and CTO Aaditya Goyal, said, “MoneyyApp was built to add genuine value to the creators’ environment. It provides a web 3.0 platform and a $MYY coin, a self-rewarding, dynamic Create-to-Earn token. We provide solutions to the main pain points of creators such as wealth creations, engagement, and transparency.”
The startup has built an automatic reward generation mechanism for observing atomic habits independent of the other platform used for distribution. Creators are awarded transparently with OpenSource Web3.0 APIs.
MoneyyApp has a network of 50K creators on Telegram and WhatsApp and is helping creators own the content they create via onboarding them on Web3 in the most straightforward way.