PE-VC Fund Investments
B2B credit infra platform FinBox raises $40-M led by WestBridge Capital
Press Release Money Control FinBox
Gurugram-based business-to-business (B2B) credit infrastructure platform FinBox has raised USD 40 million (around INR 350 crore) in its Series B round led by WestBridge Capital. The round also saw participation from existing investors A91 Partners and Aditya Birla Ventures. Of the sum raised, USD 35 million came through primary capital, and the rest was raised through secondary share sales by early angel investors.Founded in 2015 by Rajat Deshpande, Anant Deshpande, Srijan Nagar and Nikhil Bhawsinka, FinBox offers a product suite and credit infrastructure for businesses to provide tailored credit products to their customers & partners using advanced data analytics.The new funds will be used to launch new products and strengthen the firm’s risk, fraud, and underwriting platforms. The fresh capital will also be used to go deeper in the fraud detection space and foray into secured lending, loans against property, housing loans and also to scale operations in Southeast Asia.
Between Aug 2019 and Jun 2022, FinBox had attracted about USD 15 M from A91 Partners, Aditya Birla Ventures, Arali Ventures, Flipkart and others.For FY24, FinBox had reported about INR 48 Cr in Operating Income and about INR 34 Cr in Net Loss.
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