Total amount raised
$14 Millions
Latest funding date
1/1/2024
Location
FinAGG has successfully raised $11 million in a Series A funding round led by Tata Capital and Blue Orchard. The company offers digital credit solutions tailored for suppliers, distributors, and retailers, facilitating seamless transactions within the supply chain.
Keep reading to explore the intricacies of FinAGG's fundraising journey and the investors backing this innovative platform.
What Is FinAGG?
Founded in 2019, FinAGG is a fintech company based in Noida, Uttar Pradesh, India. The company was established by Nipun Kohli, Praveen Kumar, and Srinivasan R.
FinAGG specializes in providing digital credit solutions for suppliers, distributors, and retailers, facilitating seamless transactions within the supply chain. Their services include a digital credit card, stock now pay later, invoice finance, and loans without collateral.
With a team of 101-250 employees, FinAGG leverages AI-enabled analytics to offer tailored financial services, ensuring efficient cash flow and working capital management for businesses.
How Much Funding Has FinAGG Raised?
- Seed Round
- Amount Raised: $3M
- Date: September 2022
- Lead Investors: BLinC Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial scaling and development efforts.
- Debt Financing
- Date: January 18, 2024
- Lead Investors: Gray Matters Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital through non-convertible debentures.
- Series A
- Amount Raised: $11M
- Date: January 18, 2024
- Lead Investors: BlueOrchard Finance S A, Tata Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand online and offline presence, enhance international reach, and drive product innovation.
Total amount raised: $14M. Current valuation: Not publicly disclosed.
Key Investors
- BlueOrchard Finance S A
- Details: BlueOrchard is a global impact investment manager dedicated to fostering inclusive and climate-smart growth. They manage a range of investment funds and mandates across emerging and frontier markets.
- Investment Focus Areas: Microfinance, SME finance, climate finance.
- Notable Investments: Not explicitly detailed.
- Tata Capital
- Details: Tata Capital is a financial services company and a subsidiary of Tata Sons Limited. They offer a wide range of financial products and services to retail, corporate, and institutional clients.
- Investment Focus Areas: Infrastructure, real estate, technology.
- Notable Investments: Not explicitly detailed.
- Gray Matters Capital
- Details: Gray Matters Capital is an impact investment firm that focuses on funding innovative and scalable solutions to improve the lives of underserved populations. They provide capital through various financial instruments, including non-convertible debentures.
- Investment Focus Areas: Education, financial inclusion, healthcare.
- Notable Investments: Not explicitly detailed.
- BlinC Invest
- Details: BlinC Invest is a venture capital firm that focuses on early-stage investments in the fintech and edtech sectors. They aim to support innovative startups that have the potential to disrupt traditional industries.
- Investment Focus Areas: Fintech, edtech, technology.
- Notable Investments: Not explicitly detailed.
- Small Industries Development Bank of India (SIDBI)
- Details: SIDBI is a development financial institution in India that focuses on the growth and development of micro, small, and medium enterprises (MSMEs). They provide financial and developmental support to these enterprises.
- Investment Focus Areas: MSMEs, industrial development, financial inclusion.
- Notable Investments: Not explicitly detailed.
What's Next for FinAGG?
FinAGG is poised to capitalize on significant opportunities, including expanding its online and offline presence and enhancing its international reach. With over Rs 5,230 crore in loans disbursed to more than 85,000 MSMEs, the potential for growth is substantial, especially with the integration of blockchain technology to improve underwriting processes.
Future fundraising opportunities seem promising, given the successful Series A round and previous funding. This momentum could attract further investments to support their ambitious expansion plans. However, challenges such as maintaining profitability, integrating new technologies, and navigating regulatory landscapes may pose hurdles along the way.
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