 "Ignosis raises $4 mn in pre-series A led by Peak XV's Surge, Razorpay")
Ignosis, an enterprise-first Account Aggregator (AA) infrastructure and financial data intelligence platform, has raised $4 million in its pre-series A round.
The funding round was led by Peak XV’s Surge, with participation from Force Ventures, Razorpay Ventures, Kunal Shah of Cred, and other existing investors.
Ignosis will use the capital to scale its engineering, business, and compliance teams.
The company said key focus areas include driving hyper-personalisation through financial data intelligence and building finance-specific large language models (LLMs) and agentic AI (artificial intelligence) use cases for the Indian financial sector.
The Ahmedabad-based company provides metrics such as income detection, risk underwriting, fraud signals, and financial health indicators.
“Just as UPI (Unified Payments Interface) became the default rails for payments, AA is poised to become the default rails for secure, consent-driven financial data sharing. Our solution is to build a reliable and intelligent Account Aggregator (AA) layer that makes financial data both accessible and usable,” said Nirav Prajapati, co-founder and chief executive officer (CEO), Ignosis.
The company currently serves more than 125 banking, financial services, and insurance (BFSI) customers.
“With advances in AI, we are enabling BFSI players to move away from legacy bank statement analytics into a new era of financial data intelligence,” said Chintan Sheth, co-founder and chief technology officer (CTO), Ignosis.
Ignosis is building on Reserve Bank of India (RBI)- and Digital Personal Data Protection (DPDP)-compliant Digital Public Infrastructure (DPI) rails.
These include AA, the Open Credit Enablement Network (OCEN), and the Open Network for Digital Commerce – Financial Services (ONDC-FS).
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%