FinTech Fello launches Fello 2.0 to boost savings & rewards ecosystem

By Gloria Mathias

Fello, India’s rewarding savings platform, has recently launched Fello 2.0 to become India’s Rewarding Savings App. The All-New Fello will allow users to save in new assets such as tax-saving mutual funds and fixed deposits, in addition to digital gold and P2P, and will offer better returns and bigger rewards.

Embarking on a mission to redefine the conventional savings approach with prize-linked savings (PLS), the All-New Fello endeavours to write a new narrative of financial empowerment amongst the Indian populace.

The platform introduces tax-saving mutual funds, Gold Pro with returns up to 15.5%, P2P with a 12% yield, and exciting rewards for Fello savers like weekly iPhones, Thar, and the chance to win up to Rs. 1 crore in digital gold, providing a comprehensive approach to redefining financial strategies.

Manish Maryada, CEO & co-founder of Fello, shared, “Our new launch marks a significant milestone in our journey to become India’s largest rewarding savings app. We’re excited to introduce new assets to our offering, representing our dedication to reaching out to and catering to the needs of a larger chunk of Indian savers. By fusing savings with an element of rewards, the All-New Fello is designed to cater to the changing savings behaviour of our audience. We hope to continue to revolutionise the financial habits of people and improve the savings experience.”

With its innovation, Fello has partnered with Augmont, a gold retailer in the country, to offer a take on conventional gold investments. With the addition of Gold Pro, users will be able to lease their gold and earn lucrative interest of up to 15.5%, delivering an unparalleled opportunity for Indian consumers to diversify their investment portfolio.

Backed by its exponential growth, Fello has attracted a substantial $5 million in funding from global investors, with Courtside Ventures leading the way.

Following the launch of All New Fello, the platform will continue to evolve and expand its user base. The platform is poised to set new benchmarks in the financial technology landscape, providing a compelling model for the intersection of savings and rewards.