Venture Capital

Meta preps 1st early-stage India bet; what Cashfree nod means for wealthtechs

Soumya Gupta

Pratik Bhakta

July 22, 2022 | 6 Min Read

The Crux newsletter this week. Facebook’s parent is moving to back ‘event-trading’ startup Better Opinions. Plus, wealthtech players believe more Indians may invest in global stocks since RBI has allowed Cashfree to facilitate cross-border payments in this space

Meta Platforms, home to Facebook, Instagram and WhatsApp, is poised to make its first early-stage investment in India. About time. The recipient is event-trading startup Better Opinions, which is backed by Silicon Valley’s famous incubator, Y Combinator.

Meta is leading a seed funding round of $3 million at a $20-million valuation and will invest $1.5-2 million, people aware of the development told The CapTable.
Other investors include Goodwater Capital, Taurus VC and Metaplanet VC.

Gurugram-based Better Opinions did not respond to requests for comment. It is founded by former executives of GoJek, Indonesia’s multi-service platform, and led by Samay Jain and Soumyajit Das. (The executives built GoJek’s financial services arm.)

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