Chennai-based fintech startup Finsire has raised $1.3 million in a seed funding round from iSeed, Spark Capital, Devx, 1947 Rise, Adept ventures, Portal Angel Investors, Purple Matters, DeVC India, and Lets Ventures.
Individual angel investors who participated includes Shashank Kumar and Harshil Mathur, Co-Founders of Razorpay and Mars Shot Ventures, Co- founder of M2P Fintech, MadhuR, Prabhu R and Muthu A, Lalit Keshre, CEO Groww, Maninder G, CSO, OYO, Justin Caldbeck, Co-Founder Binary Capital, Abhinav Sinha, COO & CPO, OYO, Mr. Mohan K, Co-Founder & CEO, IppoPay, Pratekk Agarwal from Growthcap Ventures, Abhishek Goyal, Tracxn, Founder, Abhishek Rungta, Founder, Indus Net Tech, Rahul Mathur, Founder,Verak, Meet Semlani, Co-founder,Tartan, Amit Goel, Founder, Medici.
The startup said it would be using the raised capital to increase its team size, building products, and serve numerous integrations in the pipeline.
Founded in 2021 by Shreyans Nahar, Mridul Manhas, and Subramaniam Chintamani, Finsire builds lending enablement services by permitting digital assets to be taken as collateral.
The startup allows banks, NBFCs, fintech firms, credit requirement distribution, and depositaries to maximise their lending capabilities.
Shreyans Nahar, CEO and Co-founder of Finsire, said, “Excited to build the Digitized secured infrastructure for India. Once in a lifetime opportunity for us; Indian households hold over 14 trillion dollars in assets, and global households’ assets are over 400 trillion dollars. Today these assets are extremely hard to pledge. The idea is to allow the asset holder to do what they wish to do with these assets.”
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