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FinBox raises $40 Mn in Series B round led by WestBridge

EntrackrEntrackr · 1d ago
FinBox raises $40 Mn in Series B round led by WestBridge
Medial

FinBox, a credit infrastructure fintech, has raised $40 million in a Series B round led by WestBridge Capital, with participation from existing investors A91 Partners and Aditya Birla Ventures. The funding round also included $5 million in secondary to provide partial exits to early investors. Earlier in June 2022, it had raised $15 million in a Series A round led by A91 Partners. The company also counts Flipkart among its early backers. The Bengaluru-based company will use the funds to accelerate product innovation, fuel international expansion, and deepen its AI-driven credit intelligence stack. Founded in 2017 by Rajat Deshpande, Anant Deshpande, Nikhil Bhawsinka, and Srijan Nagar, FinBox builds B2B credit infrastructure for banks, NBFCs, and fintechs. Its modular platform powers digital loan origination, underwriting, fraud detection, and embedded lending. FinBox is betting big on Sentinel BRE (its AI-native digital lending platform), Partnership Lending Stack (Prism), and fraud intelligence products, while strengthening its BankConnect, DeviceConnect, and KYC API suite. Currently, more than 130 large clients use its solutions, including HDFC Bank, Kotak Mahindra Bank, Aditya Birla Capital, Tata Capital, and Poonawalla Fincorp. As per TheKredible, FinBox grew its revenue by 47% in FY24 to Rs 53 crore, but its losses also rose to about Rs 34 crore. The firm has yet to file FY25 results. Since inception, it has processed more than $9 billion in loan applications. The company claims to be growing 100% year-on-year across product lines. It competes with players like Perfios, Signzy, and Fibe.

A91 Partners closes $665 Mn Fund III

EntrackrEntrackr · 4m ago
A91 Partners closes $665 Mn Fund III
Medial

A91 Partners has announced the final close of its third fund at $665 million. With Fund III, A91 plans to continue backing growth-stage businesses and supporting founders with scale and strategic capital. “We started A91 in 2018 with the following beliefs - patient capital will play an important role in accelerating value creation in Indian businesses across sectors. We also believed in the opportunity to create a world-class Indian investment firm - for founders who are aiming to build large enduring businesses from India. All these beliefs have been strengthened over the last 6 years,” said A91 Partners in a Linkedin post. Founded in 2018 by former Peak XV partners Gautam Mago, Abhay Pandey, Kaushik Anand, and VT Bharadwaj, A91 Partners was created to support Indian entrepreneurs building long-term businesses. The firm focuses on investing across sectors such as consumer, healthcare, financial services, and technology. The firm said it remains committed to being a long-term partner to both founders and Limited Partners as it continues to grow its presence in the Indian private equity landscape. A91 Partners has also made investments in sectors like coffee, spices, and home appliances, including backing brands such as Atomberg. It led a $30 million Series B funding round in Blue Tokai Coffee Roasters. The firm’s portfolio includes companies like Digit Insurance, Inshorts, Sugar Cosmetics, Exotel, Healthkart, Paper Boat, and Plum, among others. Go Digit General Insurance, one of A91’s portfolio companies, went public last year. In a recent disclosure, the International Finance Corporation (IFC) said that it is considering an investment of up to $35 million in A91 Partners’ third fund, with the possibility of committing an additional $30 million for co-investment opportunities.

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