Navanc Secures $1 Million in Seed Funding
- ByStartupStory | December 12, 2024
Fintech startup Navanc has successfully raised $1 million in a seed funding round led by Prarambh Ventures. The round saw participation from Inflection Point Ventures (IPV), Brigade REAP FirstPort Capital, and other marquee angel investors.
The funds will be utilized to expand Navanc’s operations across India, with a particular focus on strengthening its presence in urban and semi-urban regions. The company also plans to enhance its AI FinTech capabilities by incorporating cutting-edge technologies like Generative AI and Computer Vision models.
Founded by Nagachethan S M and Byomkesh Jha, Navanc aims to revolutionize the secured lending and insurance landscape through its innovative AI-powered property score and stack. This solution is specifically tailored for the BFSI sector, helping streamline collateral reporting and enhancing credit decision-making and portfolio management.
The firm is committed to leveraging advanced technologies, including AI, IoT, and Blockchain, to ensure secure, transparent, and reliable transactions in the proptech sector.
Currently operational across various cities in six states, Navanc is working to expand its footprint nationwide under its Bharat Vision initiative.
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