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ProFinTech raises $1.4 Mn in a seed round

Entrackr · 2m

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.