Total amount raised
$15 Millions
Latest funding date
Location
FinBox has successfully raised funding through multiple rounds, with its latest being a Series A on June 20, 2022. The company collaborates with banks and NBFCs to digitize customer journeys and underwrite NTC customers using alternative data from smartphones.
Keep reading to explore the intricacies of FinBox's fundraising journey and the investors backing this innovative platform.
What Is FinBox?
Founded in 2015 by Anant Deshpande and Rajat Deshpande, FinBox is headquartered in Bangalore, Karnataka, India. The company specializes in providing technology and data science products for banks and NBFCs, helping them digitize customer journeys and underwrite New-to-Credit (NTC) customers using alternative data from smartphones.
FinBox offers a range of financial technology solutions, including Digital Credit Infrastructure and a Risk Intelligence Suite, enabling businesses to launch and scale modern credit products efficiently. Their product lineup features APIs and SDKs for financial services, such as BankConnect, DeviceConnect, and BureauConnect.
With a team of 101-250 employees, FinBox continues to innovate in the fintech space, ensuring that enterprises can integrate and deploy credit solutions swiftly and effectively.
How Much Funding Has FinBox Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: October 2019
- Lead Investors: Arali Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch initial product offerings and establish market presence.
- Series A
- Amount Raised: $15 million
- Date: June 2022
- Lead Investors: A91 Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To deepen credit infrastructure and data product offerings, expand internationally, and double the workforce.
Total Amount Raised: $15 million. Current Valuation: Not publicly disclosed.
Key Investors
- A91 Partners
- Details: A91 Partners is a venture capital firm that invests in high-growth companies. They led the $15 million Series A funding round for FinBox.
- Investment Focus Areas: Consumer goods, financial services, healthcare, technology.
- Notable Investments: Sugar Cosmetics, Digit Insurance, Pushp.
- Aditya Birla Ventures
- Details: Aditya Birla Ventures is the venture capital arm of the Aditya Birla Group. They participated in the Series A funding round for FinBox.
- Investment Focus Areas: Financial services, technology, consumer.
- Notable Investments: Lenskart, Zivame, MedGenome.
- Flipkart Ventures
- Details: Flipkart Ventures is the investment arm of Flipkart, focusing on technology-driven startups. They participated in the Series A funding round for FinBox.
- Investment Focus Areas: Technology, e-commerce, logistics.
- Notable Investments: Ninjacart, Shadowfax, BlackBuck.
- Arali Ventures
- Details: Arali Ventures is an early-stage venture capital firm. They were the lead investor in FinBox's seed round and participated in the Series A round.
- Investment Focus Areas: Early-stage technology companies, innovative solutions.
- Notable Investments: Not publicly disclosed.
- Amrish Rau
- Details: Amrish Rau is a prominent fintech investor and the CEO of Pine Labs. He has invested in FinBox as an individual investor.
- Investment Focus Areas: Fintech, payments, digital lending.
- Notable Investments: Not publicly disclosed.
What's Next for FinBox?
FinBox is poised to capitalize on the burgeoning fintech market, particularly in Southeast Asia. With a $15 million funding boost, the company aims to deepen its credit infrastructure and data product offerings, while also expanding internationally. The Southeast Asian market presents a significant opportunity, given the region's rapid digital transformation and increasing demand for embedded finance solutions.
Future fundraising efforts are likely as FinBox scales its operations and workforce to meet these opportunities. However, the company will need to navigate regulatory challenges and intense competition in new markets. Ensuring data security and maintaining service quality during rapid expansion will be critical to their success.
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