Asset Management Startup Truboard Partners bags $2.7 million funding
- ByStartupStory | July 7, 2022
TruBoard Partners, a startup in the asset management industry, has secured $2.7 million in funding from unidentified “marquee” investors. The fintech company intends to utilise the capital to improve its “PhyGital” distribution model and broaden its reach throughout the nation, particularly in 40 Indian metropolises.
It offers asset and credit monitoring services to international and Indian banks, NBFCs, AIFs, and other financial institutions. The Mumbai-based TruBoard Partners was founded in 2020 by Vipul Thakore (formerly Managing Director at Goldman Sachs), and Nandkumar Surti (formerly Chief Executive Officer at JP Morgan Mutual Fund), and Srickant Rajagopal (formerly Principal at Piramal Group).
Additionally, the firm aids lenders in lowering non-performing assets and raising credit quality. The firm presently employs over 100 people across 19 sites throughout India. With its PhyGital technologies, the business seeks to strengthen the Indian credit system and ultimately increase credit penetration in the nation. Over the next two to three years, it also plans to expand into 40 Indian metropolises, Tier 1 and Tier 2 cities, and hire 400+ people.
Through its unique TruGenie and Truecollect technologies, the company seeks to close the gaps in the monitoring of the post-investment lifespan and collection network. With the use of its TruGenie technology platform, institutional lenders and investors may increase their returns and control risk from their portfolios during the post-investment lifespan.
A provider of monitoring solutions with a tech focus, TruBoard Partners is independent. Capital providers, provide customised solutions that help them manage their assets and make better post-investment decisions.
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