Fundfina has raised $1.3 million in a seed round

• ByStartupStory     |    February 19, 2022

Fundfina Technologies Pvt Ltd, which runs the financial platform Fundfina, announced on Friday that it has received $1.3 million (about Rs 10 crore) in seed capital from the LetsVenture AIF Syndicate, which is chaired by Pratekk Agarwaal (former Chief Business Officer at BharatPe).

Telama Investment, NAFA Capital, and Hem Angels were among the other investors in the round.

The company intends to use the additional funds to expand the marketplace participants and throughput of key products such as patent-pending financial inclusion indices and unsecured working capital, as well as to introduce new products such as business-to-business (B2B) checkout and credit cards for micro, small, and medium-sized businesses.

Fundfina was founded in 2019 by Rahul Tripathy, Nishant Bhaskar, Bikram Bajaj, and Abhijit Naik to help small businesses expand, manage, and secure their cash flow.

It allows brands and institutions to expand and maintain their distribution networks through an open and secure integrated financial marketplace.

According to the platform, it has 600,000 micro and small enterprises in 26 Indian states, with 80 per cent of them having never had official credit. ICICI, LivFin, Aphelion, and IndiTrade are among its notable clientele.

The startup raised $0.3 million (about Rs 2 crore) in 2020 from bank officials, asset management organizations, and technology firms, among others.

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