Enterprise messaging startup Fyno raises $4 million in funding led by Arkam Ventures, 3one4 Capital

Fyno, an enterprise messaging platform focused on financial services, has secured $4 million in seed funding co-led by Arkam Ventures and 3one4 Capital.

Advertisment

\The Bengaluru-based company said the proceeds will be used to strengthen its artificial intelligence capabilities, expand product functionality, and scale go-to-market efforts in India and other emerging markets. The funds will also support large-scale enterprise deployments and hybrid infrastructure development.

Founded in 2022 by Aniketh Jain and Ashish Agarwal, Fyno has built a compliance-driven communication infrastructure designed for banks, non-banking financial companies (NBFCs), and other financial institutions. The platform integrates, orchestrates, and analyzes customer engagement across multiple channels, including SMS, WhatsApp, email, push notifications, and voice.

Industry research estimates India’s communication-platform-as-a-service (CPaaS) market at $1.01 billion in 2025, with projections of tripling in size over the next five years. Fyno aims to position itself as a critical layer in this growth by addressing compliance gaps in customer interactions, a challenge that banks and NBFCs face in managing frequent, large-scale communication with customers.

The startup exited stealth mode earlier this year after two years of product development and one year of implementation with early clients.

In 2025, it processed more than five billion communications and has signed 45 banks, NBFCs, and fintech companies, including Karnataka Grameena Bank, Kerala Gramin Bank, Lendingkart, Protium, and Scripbox. Its platform underpins critical use cases such as onboarding, know-your-customer (KYC) checks, transaction alerts, and compliance messaging.

Fyno said it expects to reach $2 million in revenue by FY25-26 and $5 million by FY26–27, driven by accelerating adoption in the banking and financial services industry. It aims to double its customer base over the next 18 months and is in advanced discussions with more than 10 additional banks and several large financial institutions.

The platform’s compliance framework is designed to ensure that every message aligns with mandates from the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), the Telecom Regulatory Authority of India (TRAI), and the Digital Personal Data Protection (DPDP) Act. Fyno claims it can reduce messaging costs for institutions by 20-30% and lower engineering effort by over 90%.