Vijya Fintech raises Rs 7Cr in angel funding

Vijya Fintech Private Limited (VFPL), a wealth management firm, has closed an angel funding round, raising Rs 7 crore taking its all-time raise to Rs 15 crore. 

The startup, co-founded by Aakash Bansal and Paresh Paladiya, is on a mission to disrupt the fintech landscape with its innovative solutions tailored for investors, distributors, advisors, and stockbrokers.

Who are the investors?

The funding round saw participation from notable investors such as Lemon Tech, Lemon Emerging Ventures, Veloce Fintech, and several tech experts, including CXO-level executives from leading global tech firms in the USA. 

Aakash Bansal, Co-Founder & CEO of Vijya Fintech, said, “We are thrilled to embark on this next phase of our journey. The support from my colleagues on the Board, our investors, our users and our teams speaks volumes about their confidence in our vision and capabilities. The newly raised funds shall help us fast-track growth and bring digital-first affordable solutions to financial intermediaries through MADOSX and MIDASX.”

Accelerating expansion 

With the fresh capital, VFPL aims to accelerate its expansion, refine go-to-market strategies, and broaden its market reach. The startup claims to have over 2,000 intermediaries utilizing its platform.

It also plans to launch MIDASX, a B2B2C marketplace designed to transform financial interactions and offer seamless integration for various financial intermediaries.

Paresh Paladiya, Co-Founder & CTO of Vijya Fintech, shares his perspective on technology advancement, saying,  “At Vijya Fintech, we believe technology is the key to unlocking a more inclusive and efficient financial landscape in India. We’ll leverage these funds to build a cutting-edge, scalable platform that rivals global systems. This platform will deliver previously unavailable, impactful financial solutions to the Indian market. With our talented team, we’re poised to revolutionize Indian finance, one transformative technology at a time.”

Leveraging data analytics and AI

VFPL is not just focusing on expansion but is also deeply invested in innovation. The startup intends to leverage the latest in data analytics and AI to offer enhanced insights and personalized solutions.

This includes integrating the Account Aggregator framework and developing MADOSX (Multi-Asset Distribution Operating System), setting the stage for a new era in investor behaviour and money management.