Finfactor raises $15 million in Series A, led by WestBridge Capital

Funds will boost analytics, product development, and support Finvu Account Aggregator's growth in lending and wealth management

Finfactor, the parent company of Finvu Account Aggregator (“Finvu AA”), a technology provider enabling India’s open finance infrastructure for lending and wealth management, has raised $15 million in its Series A funding round, led by WestBridge Capital, with participation from existing investors Varanium Capital, DMI Sparkle Fund and IIFL Fintech Fund.

 

The funds raised will be used to build and scale products that address the evolving needs of financial institutions, enhance Finfactor’s analytics suite and accelerate the company’s strategy to become a full-stack technology provider for banks and BFSI clients.

 

The Pune-based firm is co-founded by Manoj Alandkar and Munish Bhatia. Finvu AA is among the first RBI-licensed account aggregators in India.

 

Manoj Alandkar and Munish Bhatia, co-founders of Finfactor, said: “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.”

 

Finvu AA is one of the largest account aggregators in the country, having served over 50 million consumers, giving them greater control over their personal financial data, according to the firm. 

 

Finvu AA works with banks, insurers, stockbrokers, investment advisors and other financial institutions to enable secure data flows. Under the leadership of Vamsi Madhav (former COO of Sahamati), Finvu AA has grown rapidly and continues to innovate for the next phase of ecosystem growth.

 

Vamsi Madhav, CEO of Finvu AA, added: “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 till 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.”

 

The company serves 150-plus BFSI clients, including HDFC Bank, Axis Bank, Motilal Oswal, Canara Bank and CRED, supported by a team of more than 120 professionals.