12th November 2022, Bengaluru

Siply, a tech-enabled micro-savings platform, today announced the launch of three ‘Phygital’ (physical + digital) branches in Bengaluru, Karnataka. The three Siply Seva Kendra have come up in Vijayanagar, TC Palya and Mathikera. Siply has also hired nearly 15 personnel to service the customers in these locations.

Siply also announced that two more branches are under outfit in the state of Karnataka, one in Mysuru and the other in Belgaum, in the next two months. The company also plans to set up Siply Seva Kendras in the states of Maharashtra, Tamil Nadu and Kerala in the next six months.

With its unprecedented flexibility, adaptability, and vision to serve the Indian masses, Siply has carved a niche as a micro-savings platform across India. So far, Siply – India ka Savings app has enabled over 6.7 million users to achieve financial independence with its services. “We are working to build a more productive, inclusive, and financially strong India, and we believe that Phygital is the path forward for us to achieve this vision,” said Sousthav Chakrabarty, CEO and co-founder of Siply.

Overall, Siply will launch a total of 1,000 branches across 115 cities in India and look to hire around 2,000-3,000 employees. Siply also plans to establish a strong agency network as its presence expands across the length and breadth of the country.

“With our phygital branches, we aim to establish a face-to-face connection with our customers, help them become familiar with digital banking and support them in their journey to financial independence, especially in small towns and rural areas,” he added.

The Siply app is available in more than 11 languages and provides innovative services like Micro Credit, Siply Gold Savings Scheme, Siply Gold Jewellery Scheme, Chottastock and more. These services aim to drive financial inclusion for contract workers, blue-collar workers, gig economy workers, and small business owners. Currently, Siply has over 3.4 million users who have collectively made more than 11 million transactions amounting to a total savings of over Rs 400 crores.

Siply has turned gold into a micro-savings instrument by allowing people to Invest as low as Rs. 1 whenever they want, without any fixed schedule, and receiving 24 Karat BIS Hallmarked Gold coins or Gold Jewellery that is BIS Hallmarked.