Subscription management startup, based in Bengaluru, Fleek has announced that it has secured $1 million in the seed funding round led by Axilor. RTP Global Ventures, 9Unicorns Accelerator, Titan Capital, along with Ramakant Sharma, an angel investor, and his syndicate participated in the fresh funding round.
Speaking on the announcement, Aditya Uttaravali, Founder and CEO, Fleek stated, “Through Fleek, we are not only enabling convenience to manage all your subscriptions but also a single place where you can settle subscription related expenses. For eg, if I share my Netflix with two other friends, I can set a recurring stream of payments through Fleek. With this fund raise, we plan to strengthen our offerings in India and also launch a beta in other markets.”
Arvind Eashwar, Founder and CBO, Fleek, said, “Indian users today have 4.8 subscriptions per head, and this number has grown from ~2 subscriptions per head in 2019. There’s been a secular shift across businesses towards the subscription economy; everything ranging from retail to entertainment are offering subscriptions to reduce acquisition cost and improve customer loyalty. This trend will only strengthen and expand to all sectors. To cater to this evolving need, where users have multiple subscriptions. Fleek aims to simplify and build an ecosystem where users get full visibility and control over their subscriptions.”
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