# GCT Technologies Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/gct-technologies-private

- Industry: Financial Services
- Headquarters: New Delhi, India
- Website: www.galaxycard.in
- Total disclosed funding: $0.5M
- Latest round: Seed (Apr 19, 2021)
- Investors on record: 3

## About

GCT Technologies Private Limited, through its GalaxyCard platform, provides innovative financial solutions that allow users to access instant credit via a user-friendly mobile application, catering to diverse spending needs across India.Founded in 2017 and headquartered in New Delhi, India, GCT Technologies Private Limited focuses on delivering digital financial services. The company raised INR 33.03 mn in a Seed funding round on April 19, 2021, led by JITO Incubation & Innovation Foundation. Amit Kumar, the founder, has a background in entrepreneurial ventures, contributing to the establishment of this fintech company, which has completed 2 deals to date. The total amount raised by the company stands at INR 33.03 mn, with a current valuation of INR 250.596 mn.The primary offering of GalaxyCard is a digital financial service that provides users with an instant credit limit accessible via a mobile application. Users can utilize this credit for various daily expenses without incurring annual fees or interest for up to 45 days. The service includes KYC verification and enables transactions through UPI QR codes or the GalaxyCard number, targeting a wide demographic in India.In the most recent financial year, GCT Technologies reported revenue of INR 41,961.8 mn. Despite this, the company faced an EBITDA loss of INR 105,579.4 mn, indicating the challenges of scaling within the highly competitive fintech landscape while catering to customer needs through its credit services.Following the Seed funding round completed in April 2021, GCT Technologies plans to utilize the raised INR 33.03 mn to scale its operations and enhance customer experience. The company aims to introduce new products designed to meet evolving consumer demands and expand into additional geographical markets across India to capture a larger share of the growing fintech sector.

## Funding rounds

- Seed, Apr 19, 2021, $0.5M — JITO Incubation & Innovation Foundation, Samyakth Capital
- Seed, Nov 13, 2020, $0.1M — Samyakth Capital, Lazr Ventures LLP

## Investors

- Samyakth Capital (https://capitalatlas.ai/funds/samyakth-capital) — Seed
- Lazr Ventures LLP — Seed
- JITO Incubation & Innovation Foundation — Seed