Shutdown
Mar 2023Spenny announced it would phase out its Android and iOS apps by 21 April 2023 and advised users to withdraw or migrate funds.
SourceAcorns for India. Every time you swipe you make a digital…
Company research
Public company, workplace, funding, and market signals
Overview
Spenny is an Indian consumer fintech and micro-investing app that automatically rounds up everyday digital spending to the nearest ₹10 and invests the spare change into gold or mutual funds; the company was founded in 2019 and later acqui-hired by CRED.
Primary product
Automated spare-change investing / micro-savings app ("Gullak")
Founded
2019
Headquarters
Bangalore, Karnataka, India
Team size
1-10 employees
Industry
Financial Services
Sub-industry
Micro-investing / personal finance fintech
Offices
Bangalore, Karnataka, India
Business model
AUM-based fee (1.75% of AUM)
Bank-partnership distribution
Cross-sell of financial products via transaction data insights
Funding
Stage
acquired
Total raised
$250K
Latest round
Acquired · Jun 2023
People & investors
Work & culture
Spenny’s public culture messaging emphasizes humour, relatability, and trust: making finance approachable, avoiding jargon, and being transparent because the company handles people’s money.
Compensation
Public full-time compensation bands were not found. A public internship listing showed ₹8,000/month, with flexible work hours and a 5-day week.
Benefits
Flexible work hours
5-day work week
Product & market
Pricing
1.75% of assets under management, with additional revenue ideas around financial-product upsell and partnerships.
Differentiators
- —Automatically rounds up spending to the nearest ₹10 and invests the difference
- —Very low minimum investment amounts (₹10+)
- —No lock-in; users can withdraw anytime
- —Bank-partnership distribution and minimal CAC
- —Relatable, humorous finance UX
- —Uses regulated/custodied investment rails (SEBI/AMFI/BSE claims on the site)
Technology
Razorpay
Customers
Indian millennials and retail savers/investors
Users making digital card, UPI, or netbanking transactions
Bank-partner distribution users
Competitors
Acorns
Jar
Gullak
Groww
Piggy
Scale & contact
Estimated revenue
under $1M (public estimate roughly $328K on company-profile sources)
Estimated monthly visits
2K
Traffic estimate as of Jun 2026
Signals & risks
Acquisition
Jun 2023CRED acquihired Spenny; some founding team members, including Rathin Shah, were reported to be joining CRED’s product team.
SourceLatest news
YourStory · Jun 2023
Reports that CRED acquihired Spenny at an undisclosed amount; founding team members, including Rathin Shah, were set to join CRED’s product team.
The Economic Times · Jun 2023
Confirms the acquihire and says CRED was bringing Spenny’s founding team into its product organization after Spenny had begun phasing out the service.
VCCircle · Jun 2023
Covers the acquihire, Spenny’s spare-change investing model, and CRED’s broader lending/wealthtech strategy.
Livemint · Mar 2023
Spenny said it would phase out its Android and iOS apps by 21 April 2023 and recommended that users withdraw or migrate their funds.
PR Newswire · Feb 2022
Company press release about a marketing campaign aimed at educating users about saving and investing; it describes the product, founders, and growth claims.
Jobs and careers at Spenny
0 jobs at Spenny
No open positions
Check back later for new openings