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Business News » Small Business News

These fintech startups are gaining attention of investors

The year 2019 has definitely observed that the fin-tech domain remains a favourite.

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These fintech startups are gaining attention of investors
Many fin-tech and financial startups are managing to get bagfuls of funds. Photo: Pixabay
Written By: ZeeBiz WebTeam
Updated: Fri, May 17, 2019
06:43 pm
Mumbai, ZeeBiz WebDesk
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In the digitizing world that we live in, there is no sphere that has been left out. With technology and innovation, the transformation of finance and financial services has surely gained momentum. Not only the changing in trends in fin-tech landscape attracting the end receivers that are the consumers but also have become the eye candy for many investors. The year 2019 has definitely observed that the fin-tech domain remains a favourite, with many fin-tech and financial startups managing to get bagfuls of funds.

Aye Finance

Initiated in the year 2014 by Sanjay Sharma and Vikram Jetley, Aye Finance within 5 years has become one of the leading lender to MSMEs. They aim to financially included micro enterprises, who are generally ignored by traditional lenders. The startup recently raised Rs 233.62 cores in Series D equity round led by New York based investment firm Falcon Edge Capital, with existing investors such as CapitalG, LGT and MAJ.

Currently, Aye Finance has provided service to 120,000 micro enterprises, with 104 branches in 11 states. Moreover, it has a loan book over Rs 10 billion. 

HAPPY

This AI-based startup by Manish Khera, Gautam Ivatury and Shweta Aprameya, focuses on delivering alternate and innovative financial services in markets from India to Kenya and the United States. The startup also aims to support and increase the financial strength of small and micro-entrepreneurs. HAPPY has lately announced $20 million in fresh capital, which it plans to use to enhance its AI-powered lend-tech model, that will provide flexible digital loans to micro and small business in over 500 locations across India.

HomeCapital

It a technology platform that came to be India's first down payment assistance program wherein their objective is to provide interest free down payment assistance to home buyers. HomeCapital has successfully concluded its pre-Series A funding recently, with lead investor  Astarc Ventures. Venture Catalysts, Anand Piramal of the Piramal Group, Singapore Angel Network, Venture Gurukool, Anuj Golecha, Samyakth Capital, Gaurav Gandhi of Essgee group, and Shalin Shah, a renowned Coinbase seed investor were also part of the seed funding round.

InCred

A new age NBFC, which benefits its customers with custom made loan products for individuals and businesses alike. Among their products is personal loans, education loans, SME business loans, home loans and two-wheeler loans.

InCred successfully concluded its Series A Funding round of Rs 600 crores, led by  Dutch development finance institution FMO. US-based asset manager Moore Capital, India/Latin America-focused PE fund Elevar, and Alpha Capital also participated in the seed funding round. 

Vivriti Capital

This startup is India's largest technology-enabled marketplace to serve  financial institutions, corporate, small enterprises, and individuals that lack the access to efficient financial services. Not so long ago, Vivriti Capital bagged a Rs 110 crore worth of equity from existing investor Creation Investments. 

Two months prior to this, the startup had secured Rs 200 crores from Creation Investment, making Vivriti Capital's overall capital stand around Rs 320 crores today. 
 

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TAGS:
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