Tinder Co-Founder Justin Mateen Leads Funding Round For Fintech Startup
Justin Mateen has led a seed funding round for a new Singaporean fintech startup called Volopay.
The Tinder co-founder and former CMO helped to raise $2.1 million in a round that also received contributions from Y Combinator, Soma Capital, CP Ventures and VentureSouq.
Volopay offers users a variety of financial services all on one platform, such as corporate cards, bill payments, expense approvals and credit. They also receive 2% cashback on all software subscriptions and international travel to help businesses thrive.
The funds will be used to aid product development, expansion into new markets and new strategic partnerships.
CEO Rajith Shaji explained that he was inspired to create the service after his own difficult experience of launching a startup. He said the process of filing expenses is “broken” and a lot of small businesses are unnecessarily losing money.
Gustaf Alstromer, a partner at Y Combinator, added: “Helping companies with tools that make it easier to do business and get their expenses under control is a huge opportunity globally, especially in the post-Covid world.”
Mateen has been involved in a number of investments since he left the dating app. This summer he helped ‘Avion School’, a Filipino startup that teaches the next generation of software engineers in just a matter of months.
He also worked with fellow Tinder co-founder Sean Rad to raise money for MOSH to help men learn more and open up about sensitive health issues.
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