Team Startupcity

• Fyno, a Bengaluru-based startup, has raised funds to boost AI capabilities, expand product offerings, and scale operations across India and emerging markets.
• Founded in 2022, Fyno offers a compliance-focused communication platform for banks and NBFCs, already handling 5 billion+ messages for 45 financial institutions.
• With ambitions to reach $5M revenue by FY27, Fyno aims to double its customer base and streamline regulatory-compliant messaging across SMS, WhatsApp, email, and more.

​The Bengaluru-headquartered firm stated the proceeds would be used to enhance its artificial intelligence strength, enhance product capabilities, and grow go-to-market operations in India and other emerging markets. The funding will also be used for large-scale enterprise deployments and hybrid infrastructure development.

Started in 2022 by Aniketh Jain and Ashish Agarwal, Fyno has established a compliance-focused communication infrastructure for banks, non-banking financial companies (NBFCs), and other financial firms. The platform unifies, coordinates, and diagnoses customer interactions across various channels, such as SMS, WhatsApp, email, push notifications, and voice.

Industry study puts India's communication-platform-as-a-service (CPaaS) market at $1.01 billion in 2025, with a growth potential of doubling in size over the next five years. Fyno looks to become a key enabler in this expansion by filling compliance gaps in customer interactions, an area that poses difficulty for banks and NBFCs in handling on-the-go, mass-scale communications to customers.

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The startup came out of stealth mode earlier this year after two years of product work and a year of live testing with early customers. In 2025, it handled over five billion communications and has onboarded 45 banks, NBFCs, and fintech firms, including Karnataka Grameena Bank, Kerala Gramin Bank, Lendingkart, Protium, and Scripbox. Its platform supports key use cases like onboarding, know-your-customer (KYC) verifications, transaction notifications, and compliance messaging.

Fyno stated that it would reach revenues of $2 million by FY25-26 and $5 million by FY26–27 on the back of growing adoption in the banking and financial services space. It would double its customers within the next 18 months and was engaged in advanced talks with over 10 other banks and a few large financial institutions.

The platform's compliance design is set to make sure that all messages conform to requirements from the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), the Telecom Regulatory Authority of India (TRAI), as well as the Digital Personal Data Protection (DPDP) Act. Fyno asserts that it can save messaging costs for institutions by 20-30% and decrease engineering effort by more than 90%.