Finsire, a Chennai, India-based Infratech and asset collateralization API fintech company, raised $1.3 million in seed funding.
The round was led by DevX Venture Fund, with participation from a clutch of investors, including iSeed, Spark Capital, 1947 Rise, Adept Ventures, Portal Angel Investors, Purple Matters, DeVC India, Lets Ventures, Shashank Kumar and Harshil Mathur, Co-Founders of Razorpay and Mars Shot Ventures.
"Excited to build the digitized secured infrastructure for India. Once in a lifetime opportunity for us; Indian households hold over 14 trillion dollars in assets, and global households' assets are over 400 trillion dollars. Today these assets are extremely hard to pledge. The idea is to allow the asset holder to do what they wish to do with these assets," Shreyans Nahar, CEO and co-founder of Finsire,
Finsire is Lending Infrastructure tech to collateralize digital assets. The company focused on building and digitizing the Infra rails from various assets and innovating with asset originators, depositaries, and lenders in this space.
Company: Finsire Technologies Private Limited
Round: Seed Round
Funding Month: March 2023
Lead Investors: DevX Venture Fund
Additional Investors: iSeed, Spark Capital, 1947 Rise, Adept Ventures, Portal Angel Investors, Purple Matters, DeVC India, Lets Ventures, Shashank Kumar, Harshil Mathur, and Mars Shot Ventures
Company Website: https://www.finsire.com/
Software Category: Lending Infrastructure
About the Company: Founded in 2021 by Mridul Manhas, Shreyans Nahar, and Subramaniam Chintamani, Finsire is a fintech-SaaS firm that provides a lending infrastructure platform that integrates with financial institutions, fintechs, asset holding brokers, and their distribution to collateralize the income and digital assets of borrowers to provide credit. The platform allows banks, NBFCs, fintechs, credit requirement distribution, and depositaries to maximize lending capabilities. The company's primary function is to eliminate NPAs for lenders and help them earn a risk-free return on lending while passing down lower interest rates for end-users.