B2B fintech startup FinBox raises $15M financing led by A91 Partners

Bengaluru-based B2B credit infrastructure fintech FinBox has announced a fundraise of $15 million (INR 115 crore) led by A91 Partners.

Aditya Birla Ventures and Flipkart Ventures, besides existing investor Arali Ventures also participated.

FinBox will use this capital 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.

Through its Embedded Finance Stack and data intelligence suite, FinBox is on track to facilitate the disbursement of more than INR 20,000 crore in credit by March 2023 through its ecosystem of more than 50 partners, including NBFCs, banks, and fintechs. 

FinBox’s technology enables any digital platform (both fintech and non-fintech) to launch digital credit products such as BNPL, personal loans, working capital loans, invoice financing, etc. while its data products provide the requisite intelligence to make optimum credit decisions.

“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% digital products within a matter of days,” says Rajat Deshpande, CEO and co-founder of FinBox. 

Deshpande added that the goal at FinBox is to take the complexity out of financial services and make it easier to build and launch newer, more effective products without hard work.  

Apart from its API stack, FinBox provides credit risk intelligence to more than 25 Banks, NBFCs, fintechs, and credit marketplaces. Its alternate data product suite predicts and helps price credit risk and further drive collections and cross-sells to borrowers. 

“Our data products including our proprietary scores create an instant trust between lenders and millions of borrowers thus enabling us and our lender partners to create automated yet low-risk lending workflows for deeper financial inclusion,” said Anant Deshpande, Co-founder, and head of data products, FinBox. “We realized early that responsible use of alternate data for underwriting can be a game-changer for lenders in India  where less than 50% of credit eligible population is able to prove its creditworthiness and access credit.”

FinBox counts the likes of ZestMoney, Khatabook, TrueBalance, Home Credit India, IIFL, large conglomerates, telcos, banks, NBFCs, and other Fortune India 500 companies among its clients. 


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