FinBox, a credit infrastructure fintech startup, on Wednesday announced that it has raised $40 million in its Series B funding round led by WestBridge Capital.
The funding also saw participation from existing investors A91 Partners and Aditya Birla Ventures, the Bengaluru-based startup said in a statement.
The fresh capital proceeds will be used to accelerate investments in technology, fuel international expansion, and deepen FinBox’s product offerings. The company will also expand its portfolio of solutions to build agentic AI workflows & a fraud intelligence suite, the statement added.
Earlier in June 2022, the company had raised $15 million in a Series A round led by A91 Partners.
“Our mission is to empower lenders to source better, underwrite faster, fight fraud more effectively, and extend fairer, more accessible credit to millions. We will continue to deepen our digital lending stack, launch new products, and expand internationally—while staying true to our vision of creating sustainable, world-class financial infrastructure from India for the world,” said the FinBox founding team – Rajat, Anant, Nikhil, and Srijan.
Founded in 2017 by Rajat Deshpande, Anant Deshpande, Nikhil Bhawsinka, and Srijan Nagar, FinBox is betting big on digitising lending through its AI-native digital lending platform, Sentinel BRE & Partnership Lending Stack (Prism) while continuing to help lenders manage risk with its data & API suite – BankConnect, DeviceConnect & KYC APIs.
FinBox counts lenders like HDFC Bank, Kotak Mahindra Bank, Poonawalla Fincorp, Aditya Birla Capital, Muthoot Fincorp, Tata Capital, and many other enterprises among its customers.
IndigoEdge acted as the sole financial advisor to the transaction.
