FinAGG Technologies has raised Pre- Series A round led by venture capital company BLinC Invest. Existing investor, Prime Venture Partners, has also participated in this round. As per the company, the fresh funds will be diverted towards launching new products, expanding current products in new cities, augmenting lending partnerships, and investing in technology.
FinAGG team have a strong pedigree and are well poised to create unique financing solutions for the ecosystem at large, Amit Ratanpal, founder and MD, BLinC Invest, said. “Finagg’s world class technology with deep anchor integration will enable the MSME to obtain working capital cash flow at the click of a button,” he added.
Established in 2020 by Nipun Kohli- the former co-founder of Priority Vendor, and R Srinivasan- a technology sector veteran and former co-founder of Entitle Tech Solutions, FinAGG is a new-age supply chain platform focused on providing closed-loop credit solutions to distributors, retailers and MSMEs via its proprietary platform ‘Quick Cash Flow’. “We hope to take advantage of their combined experience and unique partnership led philosophy to create FinTech products that will fill the many gaps in MSME financing today and cater to the companies that comprise the backbone of the Indian economy,” Nipun Kohli, co-founder and CEO, FinAGG stated.
According to Sanjay Swamy, managing partner, Priven Advisors LLP (Prime Venture Partners), FinAGG’s strong growth since inception is a testament to its unique solution which addresses a massive opportunity – providing MSMEs with credit for short periods of time. “This helps increase sales and decreases stock outs, ensuring no demand goes unserved. We are privileged to be associated with this team from the start of their journey and welcome the team at BLinC to transform MSME financing in India,” he highlighted.
BLinC Invest is a Rs 100 crore fund based out of Mumbai investing in only two sectors – Fintech and Edtech founded by Amit Ratanpal. The fund aims to make five-seven investments across fintech and edtech with an average ticket size of Rs 10-20 crore.
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