CirclePe Secures Nearly $1 Million in Pre-Seed Funding

Preeti Bali / 9:23 am / May 28, 2024

CirclePe, a rising fintech startup, has successfully secured close to $1 million in its pre-seed funding round. This round was led by OTP Ventures, a venture capital firm steered by Suhail Sameer, the former CEO of BharatPe. Other notable participants included 1947 Rise, iSeed, IIT Delhi, Venture Catalyst, and prominent founders and CXOs from companies like OfBusiness, BharatPe, Uni Cards, and OYO.

Introducing “Smart Renting”: A Zero-Deposit Solution

CirclePe, spearheaded by Navan Jaiswal and Ankur Yadav, is introducing a revolutionary concept called “Smart Renting.” This solution caters to credit-worthy tenants, allowing them to move into a new rental property without the burden of a hefty security deposit. Instead, tenants can simply focus on paying their monthly rent, eliminating the need for upfront additional charges.

Simplifying Rentals Through Strategic Partnerships

CirclePe is forging strategic partnerships with major proptech (property technology) companies. This collaboration allows them to extend the “Smart Renting” feature to independent landlords and co-living operators within the retail space. Ultimately, CirclePe aims to deliver a streamlined and hassle-free rental experience for all parties involved.

Disrupting the Rental Value Chain

By eliminating the requirement for substantial security deposits from tenants, CirclePe disrupts the traditional rental value chain. This approach not only alleviates the financial burden on tenants but also unlocks capital for landlords and co-living operators. This win-win situation for all stakeholders holds immense potential for transforming the rental landscape.


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