Finfactor, the parent company of Finvu Account Aggregator, has raised USD 15 million in its Series A funding round, led by WestBridge Capital. Existing investors Varanium Capital, DMI Sparkle Fund and IIFL Fintech Fund also participated in the round.
According to Finfactor, the fresh capital will support the expansion of its product suite for financial institutions, strengthen its analytics capabilities and advance its ambition to become a full-stack technology provider for banks and BFSI clients. Finvu Account Aggregator, co-founded by Manoj Alandkar and Munish Bhatia, enables secure data exchange for banks, insurers, stockbrokers and investment advisers, and claims to have served more than 50 million consumers.
Finfactor offers data analytics and AI-driven solutions, including a multi-AA gateway, bank statement analysis, loan monitoring tools, collections support and wealth management capabilities. The company states that it caters to more than 150 BFSI clients such as HDFC Bank, Axis Bank, Motilal Oswal, Canara Bank and CRED, supported by a team of over 120 professionals.
WestBridge Capital continues to be active in the FinTech and enterprise technology space, having recently led a USD 40 million Series B round for credit infrastructure firm FinBox and backed companies including UnifyApps and SpeakX, while also participating in a secondary transaction in Rapido.
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