Finfactor Secures $15 Million Series A Funding Led by WestBridge Capital
- Finfactor raises $15 million in Series A to expand financial tech offerings.
- Funding led by WestBridge Capital with participation from existing investors.
- Capital to enhance analytics, product suite, and full-stack BFSI solutions.
Pune-based Finfactor, the parent company of Finvu Account Aggregator, has raised $15 million in a Series A round led by WestBridge Capital. Existing investors Varanium Capital, DMI Sparkle Fund, and IIFL Fintech Fund also participated in the round.
The funding will help Finfactor scale its product suite for banks and financial institutions, enhance analytics capabilities, and advance its mission of becoming a full-stack technology provider for BFSI clients.
Co-founded by Manoj Alandkar and Munish Bhatia, Finvu Account Aggregator enables secure data exchange between banks, insurers, stockbrokers, investment advisors, and other financial institutions. The platform claims to have served over 50 million consumers.
Finfactor offers AI-driven solutions including a multi-AA gateway, bank statement analyzer, loan monitoring and collection tools, and wealth management capabilities. The company currently serves more than 150 BFSI clients, including HDFC Bank, Axis Bank, Motilal Oswal, Canara Bank, and CRED, supported by a team of over 120 professionals.
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WestBridge Capital, which led the round, has a history of backing fintech and tech companies, including the recent $40 million Series B for FinBox, enterprise AI platform UnifyApps, and edtech firm SpeakX. The investor also participated in a secondary transaction in Rapido to facilitate an exit for Swiggy.
With this new funding, Finfactor aims to strengthen its position in the Indian fintech ecosystem and deliver more innovative solutions to banks and financial service providers.
