Fintech Startup Fixerra Secures INR 14 Crores in Seed Round Led by Industry Titans including Shailesh Haribhakti

• ByStartupStory     |    January 24, 2024

Fixerra Pvt Ltd, formerly known as Fixed Invest, has successfully raised INR 14 crores in a seed funding round, drawing support from prominent angel investors and family offices. Notable contributors to the round include Jaideep Hansraj, Managing Director of Kotak Securities, Shailesh Haribhakti, Chairman of Shailesh Haribhakti & Associates, Oisharya Das, CEO of Kotak Private, and the family office of Harish Shah, Managing Director of Signet Excipients Pvt Ltd, among others.

The funding marks a strategic shift for Fixerra, which has rebranded itself from Fixed Invest, a marketplace for Fixed Deposits, to an Embedded Finance startup. Fixerra is set to transform into a comprehensive banking-as-a-service provider, aiding digital businesses in swiftly launching banking products in a compliant manner.

Commenting on the investment, Shailesh Haribhakti expressed enthusiasm, stating, “We are excited to back Fixerra’s vision to bridge a gap between banks and fintechs that helps enable consumers to explore a broader range of superior banking services.”

Fixerra, led by Founder and CEO Akshar Shah, is actively forging banking partnerships and augmenting its product offerings with additional features. The company has outlined an ambitious growth plan, aiming to empower over 200 digital businesses with its banking-as-a-service suite in the next three years.

Akshar Shah, sharing the company’s strategic vision, explained, “We want to become a digital mall for banks. Over the next 3 years, we are going to focus on building infrastructure for marketplaces across multiple banking products.”

Akshar Shah brings a wealth of experience from the financial sector, having served in key roles at Kotak Mahindra Bank. As part of the portfolio advisory team at Kotak Investment Advisors, he played a pivotal role in advising India’s largest family offices on assets totaling over Rs 20,000 crore. Additionally, his leadership role in Kotak’s in-house fintech app, Kotak Cherry, further underscores his expertise.

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