Fintech startup Turno raised $3.1 million in seed led by Stellaris Venture Partners and Avaana Capital where clutch of angel investors such as Vipul Parekh of Bigbasket, Darwinbox’s Jayant Paleti, Zestmoney’s Lizzie Chapman and Priyamvada Sharma, Dhyanesh Shah of Mosaic Wellness, Matilde Giglio of Even, Rohit Bhat of Airavat Capital, Eight Roads’ Aditya Systla, Speciale Invest’s Arjun Rao, Bala Parthasarathy of Freo Money, Archit Gupta of Clear, Urban Ladder’s Ashish Goel, Kunal Khattar of Advantedge and the Goenka Family Office also participated.
Turno is a fintech company that is primarily focused on the country's burgeoning EV segment. The startup assists small and medium-sized enterprises (SMEs) and individuals in selecting the best electric vehicles (EVs) for their needs and then provides financing through its Turno credit app to allow users to purchase them. Turno intends to use the funds to expand its technology vertical and expand its footprint. The startup, which is currently only operating in Bengaluru, intends to expand to 5-6 other cities within the next month.