Indian fintech startup Finarkein raises $1.5 million from DSP Group Family Office, others

Indian fintech startup Finarkein today said it has raised $1.5 million in an extended pre-Series A funding round led by DSP Group Family Office with participation from existing investors.

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Finarkein specializes in Open Finance, Data Intelligence and AI infrastructure, empowering over 100 BFSI companies to leverage Account Aggregator framework, OCEN and ONDCFS . The startup said it is focused on providing what it claims are robust and scalable solutions that address the evolving needs of the financial industry.

Finarkein plans to allocate capital, which is a mix of primary and secondary, towards enhancing its Data & FinAI Platform, expanding the team, and exploring emerging data and AI opportunities within their existing customer base.

“Our platform continues to be a market leader in the Account Aggregator space, offering best in class experience combined with privacy preserving technologies, which is vital in the data space,ˮ said Nikhil Kurhe, CEO of Finarkein. 

“Patient capital allows us to further invest in data privacy, security and compliance as Finarkeinʼs data products further power Indiaʼs financial markets. DSP is a premier Asset Manager and has a track record of investing into and incubating Fintech businesses, and we are glad to have them onboard team Finarkein.ˮ

“Finarkein is building the foundation rails for ease of adoption of open banking and open finance. Their commitment to innovation and execution aligns perfectly with DSPʼs belief in long-term, high-impact growth. Weʼve seen how Finarkein can unlock immense value across the financial ecosystem, and weʼre excited to support their next stage of growth,ˮ said Aditi Kothari Desai, Chairperson, DSP.

“Financial products are increasingly becoming data driven and the fintech infrastructure ecosystem continues to grow multifold. Finarkein has been a clear category creator Indiaʼs open finance story. We are excited to see Indian data infrastructure companies build from India for the world, and Finarkeinʼs platform continues to set the standard for the ecosystem,ˮ said Kunal Bajaj, who takes up a Board Observer position with Finarkein.