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Fintech startup FinAGG raises $11 million in funding from Tata Capital, BlueOrchard

PRIVATEJan 29, 2024over 2 years ago

Amount Raised

$11 Million

NoidaSoftware Development

Investors

Prime Venture PartnerSmall Industries Development Bank Of India (Sidbi)Blue OrchardTata Capital

Description

FinAGG Technologies, a fintech startup that provides working capital solutions to micro, small and medium enterprises, raised $11 million in a Series A round of funding led by Schroders-backed BlueOrchard and Tata Capital. The Small Industries Development Bank of India (SIDBI) and existing investor Prime Venture Partner also participated in the equity-based round. The company has also raised another million dollars by buying out the shares of early employees at the firm.

Company Information

Company

FinAGG Technologies

Location

Noida, Uttar Pradesh, India

About

FinAGG is a young Fin-Tech organisation, on a path to create and help finance India’s largest Distributor and Retailer network. Founded and led by experienced professionals, who have been leaders in the finance Industry. Our Founders have been part of VC funded organisations earlier and have successfully exited it to large global companies. FinAGG’s platform is trusted by over 20 of the largest corporate Houses in India. In such a short span of time Finagg has been disrupting the lending market. FinAGG has kept the SME/MSME and retailers of Atmanirbhar Bharat at the forefront of their vision, and are championing them as they represent the backbone of a large portion of the creation and consumption ecosystem throughout the country.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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