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ProFinTech raises $1.4 Mn in a seed round

EntrackrEntrackr · 1y ago
ProFinTech raises $1.4 Mn in a seed round
Medial

Fintech startup ProFinTech Technologies has raised $1.4 million in a seed round co-led by HNIs and the family office of K.I. Varaprasad Reddy, Rahul Gedupudi, Sreeman Chalasani & Srinivas Kalagara, and others. The proceeds will be used to accelerate its growth and introduce innovative solutions to the market, ProFinTech said in a press-release. Co-founded in 2022 by Ravi Tanniru and Sandeep Kunkunuru, ProFinTech leverages data-backed trade recommendation and financing fulfillment engines to enable MSMEs to secure funding through a user-friendly interface, eliminating the complexities often associated with traditional financing apps and documentation processes. It addresses major hurdles for small businesses seeking quicker and simpler funding options. The Hyderabad-based company aspires to strengthen partnerships with banks and NBFCs to scale their supply chain and trade financing operations. The company is about to introduce new product features and enhancements designed to further benefit MSMEs, helping them scale their businesses. ProFinTech is incubated at T-Hub, Hyderabad, and operates from T-Hub’s Machine Learning and Artificial Technology Hub (MATH) Centre of Excellence in Hyderabad. ProFinTech claims that it has introduced several products including automated financing recommendations, transaction-level credit readiness scores, zero processing fees, and live-transaction funding.

Intellend raises $1.2 Mn in seed round led by Incubate Fund Asia

EntrackrEntrackr · 12d ago
Intellend raises $1.2 Mn in seed round led by Incubate Fund Asia
Medial

Intellend raises $1.2 Mn in seed round led by Incubate Fund Asia Mumbai-based embedded lending technology startup Intellend Technologies Advisors has raised $1.2 million (Rs 10.6 crore) in a seed funding round led by Incubate Fund Asia. The round also saw participation from M Venture Partners, Atrium Angels, and angel investor Dhananjay Tiwari. The proceeds will be used to expand the core team, enhance product capabilities, and execute the company’s go-to-market strategy. Founded in May 2025 by Brotish Das, Som Chatterjee, and Bodhisattwa Gupta, Intellend is building a full-stack lending-as-a-service platform focused on enabling embedded credit for MSMEs within digital merchant ecosystems. The platform allows merchant platforms and financial institutions to offer loans directly at the point of need using data-driven underwriting and automated risk assessment. Intellend has partnered with multiple merchant ecosystems that collectively serve over one lakh merchants, enabling access to credit through integrated lending workflows. It focuses on providing structured and affordable credit access to small businesses that typically face limited access to formal lending. Intellend also plans to scale partnerships with additional merchant platforms and financial institutions while expanding its lending product suite. The founding team brings prior experience across Indian and global financial institutions, including Citi, Standard Chartered, HSBC, Axis Bank, and other large lenders, with backgrounds in digital lending, risk management, and embedded finance.

FinReach raises Rs 21.9 Cr led by Colossa Ventures

EntrackrEntrackr · 2m ago
FinReach raises Rs 21.9 Cr led by Colossa Ventures
Medial

FinReach Solutions has raised Rs 21.9 crore (around $2.6 million) in a fresh round led by Colossa Ventures, along with existing investors Michael & Susan Dell Foundation, Omidyar Network Fund Inc, and Caspian SME Impact Fund IV. The company had earlier raised Rs 32.5 crore (around $3.9 million) from its existing investor group. The new capital will be used to scale operations, expand guarantee facilitation, and strengthen the company’s risk and technology stack to support larger volumes of credit assessments. Founded in December 2020 by Suvalaxmi Chakraborty, former senior executive at ICICI Bank, Barclays Bank, and SBM India, FinReach focuses on small entrepreneurs who struggle to access formal credit due to lack of collateral and limited credit history. FinReach operates a private-sector Credit Guarantee Program, enabling lenders to extend credit to micro, small, women-led, agri, and climate-focused enterprises. The platform connects private guarantors with lenders to de-risk loans and expand access to formal credit for underserved MSMEs. The firm’s analytics-led guarantee engine evaluates borrower risk, facilitates guarantees, and supports lending in tier-III to tier-V regions. FinReach says its programs have reached 14,150 individuals, including over 2,050 women borrowers. FinReach works with development finance institutions including British International Investment and global foundations supporting credit-access initiatives.

Kaleidofin raises $13.8 Mn led by Rabo Partnerships

EntrackrEntrackr · 1y ago
Kaleidofin raises $13.8 Mn led by Rabo Partnerships
Medial

Fintech startup Kaleidofin has raised $13.8 million in a new round led by Rabo Partnerships B.V. Existing backers Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India and Flourish have also participated in the round. This takes the total funds raised by kaleidofin since its inception to $37 million. In May 2022, the Chennai-based startup raised $15 million in its Series B round led by the Michael and Susan Dell Foundation and others in two tranches in the same year. The fresh proceeds will be used to scale its lending portfolio and expand credit scoring, middleware, and risk services through selected partnerships. Led by Sucharita Mukherjee and Puneet Gupta, Kaleidofin offers products such as KaleidoGoals, a goal-based savings solution; KiScore, a supervised machine learning-based automated credit health checking platform for informal sectors; KaleidoCredit, a credit as a platform service for lending and debt capital markets use cases; and KaleidoPay, a suite of inclusive payment solutions. The company claims to have facilitated loan disbursal of cumulatively over $2.7 billion for over 4.7 million customers and small enterprises working in the informal economy, since 2020.

Lending company mPokket raises $60 Mn debt from BPEA Credit

EntrackrEntrackr · 1y ago
Lending company mPokket raises $60 Mn debt from BPEA Credit
Medial

Digital lending platform mPokket has raised Rs 500 crore (approximately $60 million) in debt capital from private credit platform of BPEA Credit, the credit arm of Baring Private Equity Asia. The company last raised $2.24 million in funding in January 2020. The funds will be used to meet the growing credit demand from mPokket’s 24 million registered customer base while accelerating product development in the career accelerator and insurance verticals, the company said in a press release. Led by Gaurav Jalan, mPokket offers credit, insurance and career acceleration products to underserved youth, including working professionals and self-employed individuals. The eight-year-old company claims to have delivered healthy profit margins for seven consecutive years. mPokket said that it has disbursed loans with $1.7 billion in value to date with minimal default rates. mPokket recorded nearly two-fold jump in its revenue from operations to Rs 657 crore in FY23 from Rs 334 crore in FY22, according to startup data intelligence platform TheKredible. However, the firm’s profit slipped to Rs 58.7 crore in FY23 from Rs 107.8 crore in the previous fiscal. BPEA Credit provides growth capital to established mid-market companies. Over the past 11 years, it has raised three funds and invested more than $1 billion across 70 portfolio companies in multiple sectors. As per a media report, the fund is planning to launch its inaugural India-Southeast Asia fund with a targeted size of $750 million by the end of the year. It had previously backed global co-working space provider WeWork.

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