PE-VC Fund Investments
Data aggregator for BFSI sector Finfactor raises $15-M led by WestBridge
Pune-based Finfactor, the parent company of Finvu Account Aggregator , has raised USD 15 million in a Series A round, led by WestBridge Capital with participation from existing investors Varanium Capital, DMI Sparkle Fund, and IIFL Fintech Fund.Co-founded by Manoj Alandkar and Munish Bhatia, Finvu Account Aggregator facilitates secure data exchange for banks, insurers, stockbrokers, and investment advisors. It provides data analytics and artificial intelligence-driven solutions such as a multi-account aggregator gateway, bank statement analyser, loan monitoring and collections tools, and wealth management capabilities.The new capital will be used to expand its product suite for financial institutions, enhance its analytics capabilities, and advance its objective of becoming a full-stack technology provider for banks and BFSI clients.
In Jul 2022, Finvu AA had raised USD 2.5 million from Varanium Nexgen Fund, IIFL, DMI Sparkle Fund, and others.
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