Chennai-based Fintech Startup Finsire Raises $1.3M in Seed Funding

by · March 15, 2023

Chennai-based Fintech startup Finsire raises $1.3 million in seed funding

Lending Infratech and asset collateralization API Fintech Company Finsire’ announced that it has raised $1.3 million in seed funding from strategic investors.

The round saw participation from iSeed, Spark Capital, Devx, 1947 Rise, Adept ventures, Portal Angel Investors, Purple Matters, DeVC India, Lets Ventures, Shashank Kumar and Harshil Mathurco-founder of Razorpay and Mars Shot Ventures, co-founder of M2P Fintech, MadhuR, Prabhu R and Muthu A, Lalit KeshreCEO Groww, Maninder GCSO, OYO, Justin Caldbeckco-founder Binary Capital, Abhinav SinhaCOO & CPO, OYO, Mr. Mohan Kco-founder and CEO, IppoPay, Pratek Agarwal from Growthcap Ventures, Abhishek GoyalTracxn, Founder, Abhishek Rungta Founder, Indus Net Tech, Rahul MathurFounder, Verak, Meet Semlani, Co-Founder, Tartan, Amit GoelFounder, Medici.

Finsire builds lending services by allowing digital assets to be taken as collateral. The solution allows banks, NBFCs, fintechs, distribution of credit claims and depositories to maximize their lending opportunities.

The world is filled with asset classes. The US household has $150 trillion of assets, the Indian household carries about $14 trillion, and globally it’s about $400 trillion. The market opportunity is huge beyond any imagination. Asset holders just need convenient, reliable and alternatives to pledge their assets.

Mr. Shreyans Nahar, CEO and Co-Founder of Finsireso, “Excited to build the digitized secured infrastructure for India. A once in a lifetime opportunity for us; Indian households have over $14 trillion in assets, and global household assets are over $400 trillion. Today, these assets are extremely difficult to mortgage. The idea is to let the asset holder do what they want to do with those assets.”

Mr. Shiva Singh Sangwan, Founder, 1947Rise commented, “Finsire is building the secured credit infrastructure for India by collateralizing the vast majority of assets available in the country. Digitizing these is a long game. I am super excited that Shreyans decided to move back to India to build Finsire from India.”

Commenting on the financing, Mr. Meet Semlani, co-founder, Tartan so, “Shreyans, Mridul and Subu are building a once in a generation company. In today’s economic climate, it is important to provide a supportive infrastructure for banks, NBFCs and Fintech institutions that rely on assets and income as collateral. These businesses form the backbone of our economy and their growth and success are essential to the prosperity of our society. Moreover, providing access to capital and financing through asset-based lending can help bridge the gap between traditional banking and underserved communities, allowing for greater inclusion and financial mobility. In short, investing in infrastructure for asset and income-backed companies isn’t just a smart choice – it’s the need of the hour.”

The world is filled with asset classes. The US household has $150 trillion of assets, the Indian household carries about $14 trillion, and globally it’s about $400 trillion. The market opportunity is huge beyond any imagination. Asset holders just need convenient, reliable and alternatives to pledge their assets.

About Finsire

Finsire is Lending Infrastructure technology to secure digital assets. Focused on building and digitizing the Infra rails from various assets and innovating in this area with originators, custodians and lenders.

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