InPrime Finserv, a non-banking financial company (NBFC), has raised $3 million in a Series A funding round led by Matrix Partners India. Existing investors, including InfoEdge Ventures, Titan Capital, and Kettleborough VC, also participated in this funding round. This follows a significant seed funding round in November of the previous year, where InPrime raised $1.45 million with support from InfoEdge Ventures, Titan Capital, Kettleborough VC, and other notable investors.

The recently acquired funds are designated for various strategic initiatives. Specifically, InPrime Finserv plans to expand its geographical presence, grow its team across key functions like risk management, engineering, analytics, and sales, and strengthen its digital channels and credit scoring models. Additionally, the company aims to diversify its loan portfolio to cater to a broader spectrum of customers and financial requirements.

Established by Rajat Singh, Manish Raj and Sneh Thakur, InPrime distinguishes itself through its innovative lending approach. The company integrates digital data from various sources, including credit bureaus and bank accounts, along with on-field assessments. This unique combination allows for a precise evaluation of customers' needs, financial capacity, creditworthiness, and risk profiles. InPrime Finserv, headquartered in Bengaluru, adopts a hybrid lending strategy that seamlessly combines traditional and modern practices, leveraging data, digital tools, technology, and innovation to create both financial and non-financial value for its customers.

Matrix Partners India, expressing confidence in InPrime's growth potential and success, led the investment. Matrix Partners India boasts a diverse portfolio, including companies like Razorpay, Five Star Business Finance, OneCard, Ola, Ola Electric, Dailyhunt, OfBusiness, Oxyzo, Captain Fresh, and Country Delight. In June 2022, Matrix Partners India revealed plans to raise $450 million for its fourth fund, aiming to support emerging startups in the country.