StartPack has announced that they have rebranded to doola, and have raised $3M in financing. The new funding round was led by Nexus Venture Partners with participation from YCombinator, Hustle Fund, XX, Psion Capital, Translink Investment, and other all-star angels, including Jacqueline Reses, Dharmesh Shah, Ankur Nagpal, Rohini Pandhi, Arjun Sethi, and Prasanna Sankar.
The funds will be used to scale the team and further invest in product and engineering.
“Creators and independent entrepreneurs want to focus on their crafts that they love. However, to build businesses around their crafts, they would also need to take care of unexciting but necessary backend business management functions (like incorporation, compliance, taxes, banking, payments, etc.), for which they usually do not have expertise, nor interest, nor the time those activities demand. doola is set to address just that: so solopreneurs can do what they love and are best at, while doola takes care of the rest,” said Jishnu Bhattacharjee, Managing Director at Nexus Venture Partners.
Arjun Mahadevan, CEO, doola, said, “doola is not just a formation service; we’re a fintech company. This is our wedge to building the operating system for creators globally: from formation to financial to legal stack. Our work at doola is far from complete; we’re just getting started. It’s just the tip of the global iceberg for us.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.