Fintso secures $2.6 million in maiden round funding from Mankind Pharma CEO Rajeev Juneja, Piyush Gupta, and others

Date:

Trending

India-based PaaS (Platform-as-a-Service) startup Fintso has secured $2.6 million in its maiden round funding from the set of individual Angel investors.

- Advertisement -

The new round of funding led by angel investors such as Rajeev Juneja (CEO of Mankind Pharma), Pratul Shroff (Founder of Einfochips), Dilip Khandelwal (MD & Head of Technology, Asia Pacific, Deutsche Bank), and Piyush Gupta also saw the participation of General Partners of India based Consumer VCs.

In a statement issued, the company said, “It will use fresh funding for strengthening its operations and for expansion of the team.”

- Advertisement -

“The company will also use fresh funds to develop a state-of-the-art platform to help Independent Financial Advisors (IFA), MFDs to nurture client relationships, enable seamless operations, and to help them to increase its productivity,’ the statement reads.

Founded by wealth management industry veterans, George Mitra and Rajan Pathak, Fintso is a PaaS based B2B22C solution provider to the wealth management industry for smart solutions and allied services to the ecosystem players.

Speaking on the investment in Fitso, Piyush Gupta, Group FFO, HT Media says, “By using ‘Deep Tech’ and automation, Fintso is trying to solve a real problem of non-standardization and information asymmetry in the large financial advisory space. The fact that it is led by a stellar team of professionals having a vast domain experience as well as technology background augers well for success. I wish them all the very best in their journey.”

Whereas, Rajan Pathak, Co-founder of Fintso said, “Independent financial entrepreneurs have long been the “bridge of trust” for clients, not only existing but new savers. Providing solutions to this eco-system, to help them do more, and do better, for their clients, is the most effective way of addressing this large, yet highly fragmented, market. Using Fintech to enhance and augment their offerings will ultimately help the individual investors address their needs more holistically”.

“The disrupted ecosystem of the Indian financial market often makes it difficult for service providers and vertical aggregators to efficiently service these large pockets of customers spread across the country. While independent financial advisors may have that reach, they cannot expand efficiently and cost-effectively to reach the wider and dynamic audience. Fintso focuses on bridging this gap with its RPA’s (Robotic Process Automation), AI (Artificial Intelligence) and ML (Machine Learning) backed platform,” he added

Adding to the statement, Pratul Shroff, Founder of Einfochips said, “As India experiences growth and expansion in the coming decade, more and more people will feel the need to participate in the financial markets. Just like eComm growth in Tier II, III and IV cities, there is a huge pent up demand for financial information and good solid advice on investment options and opportunities. Fintso fills that gap by enabling independent financial advisors to expand their reach and market in a meaningful way.”

THE SNAPSHOTS

Sign up to get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Support our independent journalism PayPal (Outside India) For PayU (For Indian Readers).

Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

More Latest Stories

More Articles

How AI-Powered Online Platforms Are Revolutionizing Life Insurance Recommendations

Anyone with a child, a spouse, a life partner, or a parent as a dependent needs life insurance. Purchasing a life insurance product has...

Loans in Crypto Wallet: Useful Feature or a Security Threat?

Integrating crypto loans into digital wallets is gaining traction, allowing users to borrow and lend crypto assets without the need for traditional financial institutions. With DeFi revolutionizing lending, crypto loans provide an alternative to banks while offering quick access to liquidity. However, concerns about security...

From Arcade to Adventure – The Evolving Face of Entertainment and Why It Counts

Entertainment has always been a reflection of the shifting expectations of society. Earlier, people...

How Technology Helps Combat Various Viruses and Diseases

Technology has transformed the ways we approach vaccines, particularly for the flu. One noteworthy...

The Long-Term Power of Investing: Selecting Undervalued Industries

Investing can seem overwhelming, especially for beginners, as the numerous options and strategies available...

The Impact of EdTech on Student Outcomes in Higher Education

The introduction of interactive whiteboards in the early 1990s marked a major shift in...

Shell Executive Robin Mooldijk Sells €1.69 Mn in Shares

Shell plc’s Projects & Technology Director, Robin Mooldijk, has offloaded 50,000 shares in the...

HR Chief Amy Coleman Reports Over 46,000 Microsoft Shares in SEC Filing

Microsoft (NASDAQ: MSFT) Chief Human Resources Officer, Amy Coleman, has reported her stock holdings...

12 Eye-Popping Hacks to Make Your Next Business Presentation Sparkle

Business presentations are often necessary to gain new clients and showcase what it is you can offer, but more often than not, they end...

BGC Group raises $700 Mn in bond sale to refinance debt

BGC Group, Inc. (NASDAQ: BGC) has finalized a $700 million private offering of senior...

Alphabet Legal Chief John Kent Walker to Sell $2Mn in Shares via Morgan Stanley

Alphabet Inc.’s (NASDAQ: GOOGL) Chief Legal Officer, John Kent Walker Jr., has filed to...

From Startup to Success: Essential Steps for Landscaping Entrepreneurs

Starting a landscaping business is so exciting, blending creativity with the reward of transforming...

Predictive Analytics: The Key to Supply Chain Resilience

In today’s interconnected global economy, supply chains are the lifeblood of businesses, weaving intricate...

Empowering Growth: Boosting the Robotics Sector with Targeted Support

India's robotics sector is emerging as a key area of technological progress, driving innovation across industries such as manufacturing, healthcare, logistics, and agriculture. With...

Software and Technology Changing the Industry

The advent of software and technological advancements has been a game-changer across various industries. From enhancing productivity to transforming operational dynamics, tech plays an integral role today. This article delves into how software and technology are revolutionizing industries worldwide, providing insights and data to...

Jensen Huang Offloads $49.8Mn in Nvidia Shares

Nvidia (NASDAQ: NVDA) CEO and President Jen-Hsun Huang has disclosed the sale of 431,611...

Canada, Australia Partner to Build $6 Bn Arctic Radar System

In a bid to enhance Arctic and national security, Canada's Prime Minister Mark Carney...

Why Smart Cities Are the Future of Water Conservation

Water conservation has become an important factor due to climate change and worsened water...

Interview: Vserve CEO Siva Balakrishnan on SEO Secrets for Amazon Seller Success

In an interview with TechGraph, Siva Balakrishnan, CEO and Founder of Vserve, shared how...

Alphabet CEO Sundar Pichai Increases Stocks Holdings Amid Dividend Adjustment

According to a regulatory filing with the U.S. Securities and Exchange Commission (SEC), Alphabet...

Layer PR Wins SME News UK Awards, Expands to Bengaluru

Layer PR, a global public relations firm owned by TechGraph, has secured two major...
00:02:59

US President Trump Presses NATO on Greenland Annexation Plans

During a meeting with NATO Secretary-General Mark Rutte on Thursday, US President Donald Trump...
00:01:37

UK PM Kier Starmer Abolishes NHS England To Bring Health Services Under Govt Control

British Prime Minister Keir Starmer has announced plans to abolish NHS England and bring...

The Role of Edge Computing in AI-Powered Cloud Solutions

With businesses including artificial intelligence (AI) in their operations, cloud computing has grown in...

From Startup to Success: Essential Steps for Landscaping Entrepreneurs

Starting a landscaping business is so exciting, blending creativity with the reward of transforming...

Meta Chief Legal Officer Jennifer Newstead Offloads Shares as Part of Trading Plan

According to regulatory filings, Jennifer Newstead, Chief Legal Officer at Meta Platforms, Inc. (NASDAQ:...

Nvidia Director Aarti Shah to Sell Shares Worth $2.37 Mn

Aarti S. Shah, a director at NVIDIA Corporation (NASDAQ: NVDA), has filed a notice...

Alphabet COA Amie Thuener O’Toole Increases Stock Holdings

In a filing with the U.S. Securities and Exchange Commission (SEC), Alphabet Inc.’s (NASDAQ...

Elon Musk’s X Sues Indian Govt Over Content Regulation Clash

X Corp, an Elon Musk-owned social media firm, sued the Indian government in the...

Predictive Analytics: The Key to Supply Chain Resilience

In today’s interconnected global economy, supply chains are the lifeblood of businesses, weaving intricate...

UK PM Kier Starmer Abolishes NHS England To Bring Health Services Under Govt Control

British Prime Minister Keir Starmer has announced plans to abolish NHS England and bring...

VIDEO: US President Donald Trump Calls NBC A ‘Worst Network’ On Television

During a press meeting at the Oval Office on Wednesday, US President Donald Trump...

The Role of Edge Computing in AI-Powered Cloud Solutions

With businesses including artificial intelligence (AI) in their operations, cloud computing has grown in...