FinBox Raises $15 Million Led By A91 Partners Funds will be utilized to scale its offerings and expand to southeast Asia

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

FinBox on Monday announced to have raised $15 million. A91 Partners led this round with participation from Aditya Birla Ventures and Flipkart Ventures. Existing investors Arali Ventures also participated in the round. Funds will be utilized to scale its offerings and expand to southeast Asia. The company announced that it'll also be doubling its current workforce to power its expansion.

"The future of financial services lies in every company and brand providing a curated set of offerings to their own users in their own platforms and ecosystems. This not only improves trust but also the velocity of transactions and helps users get the financial products they want, wherever they want them. We enable that by allowing any company including fintechs, banks, and conglomerates to offer 100 per cent digital products within a matter of days," says Rajat Deshpande, CEO and co-founder, FinBox.

"Financial services are moving out of the physical premises into the palms of the users, this requires credit and underlying value chains to be reimagined and built from the ground up for a digital-first era. FinBox is the most prominent credit infrastructure player in the region and we back the team to lead this transformation. FinBox is well placed to become the leading infrastructure player for banking-as-a-service internationally too," said Kaushik Anand, partner, A91 Partners.

With more than 25 anchor platforms using FinBox Embedded Finance Stack to launch and scale credit products, FinBox is now going after large enterprise clients across lenders and conglomerates. The wave of digitization and decentralization of finance is prompting even the legacy companies to recraft their offerings and FinBox is already working with many Nifty50 companies to launch new-age financial services. The strategy of non-financial companies getting into financial services by launching products such as BNPL, loans, or credit cards is called Embedded Finance. Embedded Finance providers such as FinBox enable any enterprise or lender to launch financial services without having to build the technology in-house or recruit hundreds of people to run it.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
Living

The 3 Lifestyle Habits That Made Me Sharper, Stronger and More Successful

These three simple yet powerful lifestyle changes transformed my productivity, energy and mindset. Here's how you can do the same.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

News and Trends

Kolkata-Based Lab-Grown Diamond Brand Jewelbox Secures USD 3.2 Mn

The startup will primarily use the funds to expand its retail footprint, growing from eight stores to 30 locations by the end of this year.

Side Hustle

This Couple Started a Side Hustle to Improve a 'Terribly Made' Bathroom Essential. Now the Business Earns More Than $3 Million a Year.

Michael Fine and Lisa Schulner-Fine launched lifestyle brand Quiet Town in 2016 and have been growing it ever since.

Science & Technology

The Deepfake Threat is Real. Here Are 3 Ways to Protect Your Business

The rising use of deepfakes is a growing threat to businesses and society as technology advances. Here are three tips for companies to combat this threat.

News and Trends

ITC to Acquire Mother Sparsh in Next 2-3 years, Increases its Stake to 49% by Additional Investment of INR 81 Cr.

ITC first invested in Mother Sparsh in 2021 as part of its strategy to expand in the natural personal care and digital-first brand segment