BaaS Platform Buildd Raises $2 Mn In Pre-Seed Round To Accelerate Growth

Buildd's simple, modern APIs are designed for founders, developers, and product managers to build and ship complex financial products in no time

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Pune-based Buildd, a banking-as-a-service (BaaS) platform, has secured $2 million in pre-seed funding. The round was led by Germany-headquartered venture capital firm Picus Capital and Mankekar Family Office.

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"We are excited to partner with our investors who have deep experience in the financial infrastructure and tooling space and share our belief in the future of application programming interface-driven banking. Our team is a heady mix of seasoned fintech experts and bankers, who have worked together for multiple years across startups and whose insights over the past 15 years in banking and fintech have helped us create a plug-and-play microservices architecture for the entire banking stack, giving it strength of compliance, flexible workflows and scalability," said Sachin Gaikwad, founder and CEO, Buildd.

According to Global Fintech Market Research Report, the global financial technology market is expected to grow exponentially and reach a market value of approximately $324 billion by 2026, growing at a compound annual growth rate of around 25.2 per cent between 2022 and 2027. Global BaaS players like Railsbank, SynapseFi and Solarisbank have been highly successful targeting fintechs as their customers. Models like Buildd have now emerged in the BaaS 2.0 wave, with a focus on including non-fintechs as well, via a more full-stack approach to serve the platform, said the statement. The startup has already launched its first set of bundled credit plus API-based solutions in partnership with multiple banking and non-banking financial company players and now plans to initiate product expansion in the buy-now-pay-later and card domains.

"One of our core hypotheses for the Indian market is increasing penetration of financial services, hence we are excited to partner with Buildd on their mission of becoming the leading BaaS provider in the region. We believe that their banking domain expertise and fintech experience will enable them to build a superior product to deliver the underlying infrastructure for fintech innovation as well as embedded financial services," said Florian Reichert, partner, Picus Capital.

Founded in 2021, Buildd claims to be a developer-first tech platform whose BaaS sandbox permits any fintech, B2B/B2C SaaS enterprise, D2C aggregator, B2B e-commerce platform, and more, to design their product in a plug-and-play manner and go live in under 48 hours. According to the statement, the sandboxed platform, with a wide variety of bundled tools for virtual cards, deposit accounts, BNPL, credit lines, receivables factoring, B2B payments, KYC/AML compliance management, onboarding, escrow and more, empowers users to focus on creating the best user experience possible, while Buildd handles the complexities of working with financial institutions' legacy tech infrastructure as well as adherence to regulatory and compliance requirements.