WeRize has raised $8 million in its Series A round drove by 3one4 Capital, Picus Capital, and others

WeRize, a financial services platform for small towns, has raised $8 million in its Series A round drove by 3one4 Capital, Picus Capital, Kalaari Capital, and Orios Ventures.

With this round, the total financing raised by WeRize stands at $10.25 million.

The financing proceeds will be used to ramp up investments in innovation, data science, item improvement, said Bengaluru-based WeRize in a press release.

Established by Vishal Chopra and Himanshu Gupta, WeRize sells credit cards and savings products in more than 1,000 cities such as Tirupur, Coimbatore, Surat, Aurangabad and Amritsar through a social distribution.

The startup claims to cater to customers in more than 1000 cities and towns and plans to reach more than 4000 towns in the impending two years through its social distribution. The company aims to onboard more than 50,000 freelance financial consultants across India.