Infratech and asset collateralisation API Fintech Company Finsire announced that it has raised USD 1.3 million in seed funding, led by DevX Venture Fund and other Strategic Investors.
The round, led by DevX Venture Fund, also saw participation from a clutch of investors, including iSeed, Spark Capital, 1947 Rise, Adept Ventures, Portal Angel Investors, Purple Matters, DeVC India, Lets Ventures, Shashank Kumar and Harshil Mathur, Co-Founders of Razorpay and Mars Shot Ventures.
Speaking on the occasion, Umesh Uttamchandani, Co-founder, DevX Venture Fund, said, “At DevX Venture Fund, we are happy to lead the round at Finsire – they are building the lending infrastructure to collateralise all sorts of digital assets by partnering with banks, NBFCs, brokers and new-age fintechs. They are targeting an uncatered segment by maximising the lending capacity of lenders and enabling easy credit for end users.”
Shreyans Nahar, CEO and Co-founder of Finsire, said, “Excited to build the Digitized secured infrastructure for India. Once in a lifetime opportunity for us; Indian households hold over USD 14 trillion dollars in assets, and global households’ assets are over 400 trillion dollars. Today these assets are extremely hard to pledge. The idea is to allow the asset holder to do what they wish to do with these assets.”