Findeed gets seed funding from Venture Highway, Anicut Angel Fund


New Delhi: Findeed, a consumer-focused startup, has raised seed funding from Venture Highway and Anicut Angel Fund, as well as First Cheque. The capital will be used for hiring fresh talent across profiles and fueling business growth.

Founded in July 2019 by Srividhya Ramarathnam and Sriram Shankar, Findeed aims to make financial services accessible to the underserved using data analytics, technology and community partnerships. The company partners employers, non-governmental organisations and financial institutions to offer collateral-free loans to help underserved customers meet their rainy-day needs.

Liking this story?

Get one mail covering top tech news of the day in under 5 minutes!

Please wait…

“The Covid-19 pandemic robbed people of their sense of financial security, and the common working class took the worst hit,” Ramarathnam said. “We want to power their aspirations with financial access. We leverage social cooperation in this network to bring them credit access.”

“Catering to Bharat customers, Findeed’s technology aims to leverage community and cohort dynamics to create a differentiated financial services platform,” said Samir Sood, founder and ‘chief believer’ at Venture Highway. “We believe, given founders’ backgrounds and experience, they are best suited to create their version of Microfinance 3.0 for India.”

Ashvin Chadha, co-founder at Anicut Angel Fund, said: “Our investment in the company springs from its unique approach of using tech and data in creating an ecosystem that enables, empowers and equips the people of Bharat with instant credit.”

READ  Bengaluru-based Ultraviolette Automotive to launch its F77 electric bike on November 13



READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here