FinX raises $6 million in funding to revolutionise employability in the BFSI Industry

FinX, an integrated skilling platform dedicated to bridging the gap between formal education and employability in India’s BFSI (Banking, Financial Services, and Insurance) sector, has raised $6 million in seed funding from Elevar Equity.

The startup plans to use the raised capital to expand its geographical reach, broaden its product offerings, and diversify into IT skill training.

In addition to this, it will focus on enhancing its technology platform in creating scalable solutions that meet the growing demand for skilled talent across various sectors.

"This funding from Elevar Equity will enable us to expand our footprint, deepen our impact in Tier-2 and Tier-3 cities, and strengthen the skilling ecosystem for colleges and corporates. We are thrilled to partner with Elevar Equity, whose commitment to creating meaningful social impact aligns perfectly with our vision," said Himanshu Vyapak, Founder and CEO of FinX.

Connecting formal education with practical skilling

Founded in 2019, FinX is an edtech platform driven by a vision to connect formal education with practical skilling, empowering students to become job-ready professionals in the BFSI (Banking, Financial Services, and Insurance) sector.

Focused on creating a scalable impact in skilling and financial education, the startup aims to bridge the gap between talent and opportunities, both in India and globally.

FinX claims that its wholly-owned subsidiary CIEL is one of the largest corporate training companies in the BFSI industry and has been providing corporate learning solutions to professionals across banking, asset management, wealth advisory, insurance, NBFCs, financial distribution, and broking sectors.

Expanding offerings

As part of its growth strategy, FinX is expanding its offerings to include technology-focused courses and placement services.

Currently, FinX has a team of 80+ associates and a network of 1,000+ freelance trainers. The senior management team comprises seasoned professionals with an average of 20 years of experience in the BFSI sector. 

Notably, the startup plans to strengthen it’s capabilities via strategic acquisitions of skilling and training firms in the finance and technology space.

Sandeep Farias, Founder and Managing Partner, Elevar Equity, said, “Education is not just an individual aspiration for underserved Entrepreneurial Households, it directly impacts their employability, the economic well-being of their families, and their ability to climb the social ladder. We are thrilled to back FinX in its mission to enhance employability and drive economic empowerment for Entrepreneurial Households. Himanshu and the team bring a rare blend of vision, inclusivity, and execution expertise to scale this impactful model.”