Fintech startup Navanc raises $1 million in a seed round led by Prarambh Ventures, others

Navanc, a fintech startup building AI-powered property score and stack for secured lending and insurance practices, has raised $1 million in a seed funding round.

The round was led by Prarambh Ventures, with participation from Gurugram-based Inflection Point Ventures (IPV), Brigade REAP FirstPort Capital, and marquee angel investors.

Purpose of fundraising

Navanc plans to use the raised capital to expand operations across India, focusing on strengthening presence in urban and semi-urban areas.

Additionally, the startup will bolster its AI fintech capabilities by incorporating generative AI and computer vision models to further its vision of becoming India’s first property credit score and stack provider.

“We’re grateful for the support of our investors and excited to further our mission of revolutionizing secured lending and insurance practices in India. Our AI-powered solutions are set to make property transactions faster, more transparent, and accessible to all, said Nagachethan S M, CEO of Navanc.

Who are the founders?

Founded in 2021 by Nagachethan S M (CEO) and Byomkesh Jha (CTO and Data Officer), Navanc is developing AI-driven solutions for secured lending and property aggregation in the BFSI sector.

Navanc claims it is the first Indian fintech to introduce an AI-powered property score and stack specifically designed for secured lending and insurance practices. The startup has integrated advanced technologies like AI, IoT, and blockchain to ensure secure, transparent, and reliable transactions. 

Its comprehensive collateral reporting, powered by cutting-edge AI and ML models, enhances credit decision-making and portfolio management for the BFSI industry.

Investors comment

Mitesh Shah, Co-Founder of Inflection Point Ventures, said, ”Banks, NBFCs, HFCs all face the same challenges in mortgage and property assessment: inconsistent and time-consuming property valuations, lacking both transparency and data to build trust. By providing precise & scalable property valuation, transparency and reliability, Navanc helps every player in the industry make informed decisions based on real-time assessment, data and knowledge of legal and technical aspects. Thus reducing risks for both lenders and buyers. As investors, we are confident in Navanc’s potential to make property valuation efficient, trustworthy and data-driven.”

Sreenivas Ramarao, from Prarambh Venture opines, “We believe Navanc is the pioneer in delivering AI and Digital services in making the real estate transactions faster, cheaper, reliable and more accurate. We also have great confidence in the team and are fully confident of their ability to deliver user friendly products in the space.”

Currently operating across Tiers of cities in about 6 states, Navanc is focused on expanding its reach to all statesunder its Bharat Vision