FinBox

Key Highlights:

  • FinBox, A Bengaluru-based B2B fintech SaaS startup has raised $15 Mn in a funding round led by A91 Partners.
  • As a fintech platform, FinBox also offers APIs and SDKs, including a fintech stack and data intelligence, enabling startups to launch digital credit products such as BNPL, personal loans, and invoice financing.
  • Credit risk intelligence is also offered by the startup to around 25 banks, NBFCs, fintech and credit marketplaces.

FinBox, A Bengaluru-based B2B fintech SaaS startup has raised $15 Mn in a funding round led by A91 Partners. The startup was founded in 2017 by Rajat Deshpande, Anant Deshpande, Srijan Nagar, and Nikhil Bhawsinka. As a fintech platform, FinBox also offers APIs and SDKs, including a fintech stack and data intelligence, enabling startups to launch digital credit products such as BNPL, personal loans, and invoice financing. Additionally, it facilitates embedded finance in non-fintech startups.

The funding round saw the participation of Aditya Birla Ventures and Flipkart Ventures, along with existing investors Arali Ventures.

The startup plans to use the funding to expand to Southeast Asia and scale up operations. Even FinBox plans to double its current workforce to enable the said expansion plans.

Credit risk intelligence is also offered by the startup to around 25 banks, NBFCs, fintech and credit marketplaces. A total of 50 companies use FinBox services in India, including ZestMoney, Khatabook, TrueBalance, Home Credit India, and IIFL. By March 2023, it claims to have enabled disbursements of 20,000 Cr in credit.

FinBox cofounder and CEO Rajat Deshpande say the startup’s aim is to simplify financial services, making it easier for businesses to build and launch more effective products.

Aditya Birla Ventures head Piyush Bansal said, “We are bullish on embedded finance as a space, and are confident that FinBox has a strong tech foundation and domain knowledge that will allow it to cash in on the growing market opportunity this space offers.”

As per a report, With a total market opportunity of $1.3 Tn by 2025, India’s fintech ecosystem is one of the strongest among startup ecosystems elsewhere in the world. The fintech SaaS market is expected to grow at a CAGR of 40% between 2021-25 to reach a market opportunity of $12.6 billion in 2021-25, positioned to become the third-fastest-growing segment within fintech.

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