ProsParity, a fintech startup, has successfully secured $2 million in funding during its pre-seed round. The investment was contributed by prominent global institutional investors including BEENEXT, Sparrow Capital, All In Capital, DeVC, and Huddle Ventures.

Dr. Ashish Gupta, co-founder of Junglee and Helion Ventures, along with Raj Dugar, former Eight Roads Ventures executive, Dhyanesh Shah, co-founder of Mosaic Wellness, Abhishek Goyal, co-founder of Tracxn, and Nitin Kaushal, co-founder of Country Delight, were also among the angel investors who participated in this funding round.

The funds are intended for constructing a proof of concept, advancing technology, and broadening origination networks, beginning in central India. ProsParity is additionally establishing an extensive partnership network involving original equipment manufacturers (OEMs), fleet operators, dealerships, and lenders.

Additionally, a portion of the funds will be dedicated to enhancing the existing technology infrastructure of ProsParity. This will involve investing in research and development activities to further improve the functionality, performance, and reliability of the company's technological solutions. By continuously enhancing its technology, ProsParity aims to stay at the forefront of innovation and maintain a competitive edge in the market.

Saurabh Khodke and Anirudh Dhakar founded ProsParity, an electric mobility financing platform that emphasizes compliance, scalability, and agility for lenders. The platform also streamlines access to financing relationships for EV dealers and OEMs, enabling financing for their end-customers.

The firm's objective is to consolidate the financing demand in the emerging EV financing asset class by utilizing its exclusive platform and origination approach. This allows lenders to efficiently allocate their capital through a single platform.

Overall, the acquisition of funds will enable ProsParity to drive its growth and expansion plans. By developing a proof of concept, enhancing its technology, expanding origination networks, and building a partnership network, ProsParity aims to solidify its position as a leading player in the automotive industry, particularly in central India.