Angel Investments
Financial solutions provider for MSMEs ProFinTech raises $1.5 M
Hyderabad-based financial solutions provider ProFinTech Technologies has raised USD 1.4 million (around INR 11.8 crore) in a seed funding round led by the family offices of K.I. Varaprasad Reddy and Rahul Gedupudi.The funding round also saw participation from the family offices of Sreeman Chalasani and Srinivas Kalagara, along with a host of high-net-worth individuals (HNIs) and family offices from India and the US.The fresh proceeds will be deployed to boost the company’s platform, which provides micro and small enterprises across India with easy access to financing options. The funds will also be used to strengthen partnerships with banks and non-banking financial companies (NBFCs) to scale their supply chain and trade financing operations.Founded in 2022 by Ravi Tanniru and Sandeep Kunkunuru, ProFintech Technologies offers financing solutions that address the specific challenges faced by MSMEs (micro, small and medium enterprises).
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