Fundfina Raises $1.3 Million In Seed Round
The funds will be used to accelerate Fundfina's vision of building an open marketplace bank for institutions to serve MSME financing needs
Fundfina, a B2B2B embedded financing platform for enterprises and MSMEs, has raised $1.3 million in its Seed round.
The round saw participation from LetsVenture AIF Syndicate led by Pratekk Agarwaal, Prolific Investor and former CBO BharatPe, Telama Investment, NAFA Capital, BSE listed NBFC, Hem Angels, among others.
The company enables brands and institutions to grow and retain their distribution network over an open and trusted embedded financial marketplace. Proceedings of the current round would be used for accelerating Fundfina's vision of building the best open marketplace bank for institutions to serve MSME financing needs.
"FundFina has the potential to become number one go to national brand for MSME cash-flow based lending," said Pratekk Agarwaal, lead investor and former CBO BharatPe
"Our B2B2B working capital solutions powers a huge retailer base of leading payment firms, banking correspondents and kiranatech while providing our lending partners indices driven approach to investing in MSME credit portfolio," said Rahul Tripathy, co-founder and CEO of Fundfina.
With nano and micro businesses constituting 90 per cent of MSMEs in India and other emerging markets, there is now an increasing realization that a single nano and micro merchants in India can operate more than one business from the same premises. Providing contextual financing through embedding of relevant financing options within B2B space is an increasing norm of the day - a phenomenon that has spilled over from the B2C segment and enabled by API friendly marketplaces, said a statement.