Finfactor raises $15M in Series A funding led by WestBridge Capital
Finfactor, the parent company of RBI-licensed account aggregator Finvu AA, has raised $15 million in a Series A round led by . Existing investors Varanium Capital, DMI Sparkle Fund and IIFL Fintech Fund also participated.
The newly raised capital will support product development, expansion of its analytics capabilities and efforts to strengthen its technology stack for banks and other financial institutions.
“Our focus has always been to make financial data reliable, usable, and insight-driven for institutions. This capital raise strengthens that commitment and helps us build solutions that keep pace with the evolving needs of lenders and wealth managers. With this support, we will expand our teams, accelerate product development, and deepen our impact across lending and wealth management. It positions us well for the next phase of growth in the open-finance ecosystem,” Manoj Alandkar and Munish Bhatia, Co-founders of Finfactor, said.
Founded by Manoj Alandkar and Munish Bhatia, Finvu AA is among the earliest licensed account aggregators in the country. The platform has facilitated data-sharing for more than 50 million consumers and works with banks, insurers, stockbrokers and investment advisors.
“The Account Aggregator framework completes the foundational digital stack of building blocks for identity, payments, and real-time consented data-sharing. At Finvu AA, we are proud to have served over 50 million Indians to date, but we are just getting started. The era of open finance, built on these building blocks, is upon us. We are committed to becoming India’s most secure and reliable AA, for our customers, technology partners and data principals,” Vamsi Madhav, CEO of Finvu AA, added.
Vamsi Madhav, former COO of Sahamati, currently leads the account aggregator business.
Finfactor operates as a B2B fintech infrastructure provider, offering data aggregation, analytics and AI-based tools used across lending, insurance and wealth management. Its product suite includes a multi-AA gateway, bank-statement analysis, loan monitoring and collections tools.
The company serves over 150 BFSI organisations, including HDFC Bank, Axis Bank, Motilal Oswal, Canara Bank and CRED, and employs around 120 people.
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