Angel Investments
Fintech startup BankSathi raises $4-M from Kotak Securities, angels
Bengaluru-based social commerce platform Banksathi has raised USD 4 million in pre-Series A funding from Kotak Securities, Lets Venture, We Founder Circle, Hem Securities, and Inflection Point Ventures. The other investors who participated in the round include Recur Club, Liquiloans, Sunil Singhania (Abakkus), Kunal Shah (CRED), Dr Ritesh Malik (Innov8), Kailash Biyani (Asian Markets), Mukul Rastogi and Bhaswat Agarwal (Classplus), Varun Alagh (Mamaearth), Sameer Rastogi (India Juris), Manish Dabkara (EKI Energy), and Mukund Modi (MS Fincap). Founded by Jitendra Dhaka, Banksathi's platform empowers consumers by providing the right financial products to users in Tier II and Tier III cities and remote locations. The startup claims to use priority algorithms to recommend financial products to advisors, based on the customer's profile and past transactions. BankSathi is partnered with over 60 financial institutions, including HDFC Bank, Axis Bank, IDFC First, SBI, Kotak Mahindra Bank, and Bank of Baroda. The new funds will be used to grow its agent network and geographic reach. The platform aims to aid 10 million financial advisors and serve over 50 million customers in the next five years
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