SAVEIT Secures Government Backing for Patent-Filed Digital Payment Technology –A Tier-3 City Fintech Making National Impact

Saveit , the flagship fintech product of AffluenceIT Fintech Private Limited based in Gorakhpur, Uttar Pradesh, has secured seed fund approval under the StartinUP Seed Fund initiative by the Government of Uttar Pradesh. This achievement underscores the potential of innovation emerging from India’s Tier-3 cities and marks a significant milestone for Saveit after a rigorous multi-stage evaluation by UP Electronics Corporation, the nodal agency under the Department of IT &Electronics.

Saveit offers an innovative, patent-filed closed-loop digital payment technology that aims to make digital transactions faster, more secure, and easier for everyday users. Its unique solution powers a reward-based hybrid gifting and payment ecosystem, positioning the startup as a potential game-changer within India’s digital payment and gift card market, especially focusing on Bharat’s growing user base in local markets.

The seed fund will primarily be utilized for advancing research and development, ensuring compliance, enhancing product features, and building audit-ready transparency systems for financial institutions. A strong emphasis will be on continuously improving the security and reliability of the payment experience, helping to accelerate the rollout of Saveit’s secure, reward-led closed-loop gift card and hybrid payment platform on a national scale.

The leadership team is spearheading the strategic roadmap, with Co-founder and CTO Gurinder Singh leading the technological build-out of Saveit’s patented solution. CFO CA. Nitesh Kumar Srivastava is overseeing financial planning, compliance, and fund management to ensure sustainable growth, while Founder Vindhyawashini Srivastava aligns product, technology, and finance to optimally leverage the government-backed funding to showcase the innovation potential from a Tier-3 city.

Vindhyawashini Srivastava said, “This funding is not just financial support but validation of our vision to create a secure and user-first digital payment experience for Bharat.” With government backing and its patented technology, Saveit is preparing for national expansion, forging strategic partnerships with banks and fintech players, and scaling its hybrid gifting and payment ecosystem—poised to become one of India’s leading digital payment innovations coming from beyond the metro hubs.

Saveit is more than a fintech app; it is an emblem of grassroots digital empowerment, driving financial inclusion and new commerce models for middle-income users and local merchants in Tier-2 and Tier-3 cities. Its regional language interface, voice-enabled features, and AI optimizations make it highly accessible for first-time digital users, reflecting a deeper connection to the diverse Indian market.

This seed funding milestone is expected to accelerate Saveit ’s mission to transform savings, gifting, and payments in India, empowering users and merchants with transparent, secure, and rewarding financial tools tailored specifically for Bharat’s unique needs.