FinBox, a fintech startup, has bagged an undisclosed amount of funding as part of its pre-Series A round from Arali Ventures, with participation from angel investor Anup Pai, cited Mint.
FinBox will use the infused funds to further research and development (R&D) and drive adoption.
“FinBox’s vision is to accelerate financial inclusion through Big Data and machine learning tools,” Rajat Deshpande, co-founder at FinBox, said.
FinBox was launched and founded by Rajat Deshpande, Anant Deshpande, Nikhil Bhawsinka and Srijan Nagar.
FinBox has a credit risk management platform and its suite is used by non-banking financial companies (NBFCs).
FinBox said that at present, it processes around one million loan applications a month.
Besides FinBox, other fintech platform, operating for the similar objective include Groww, Lendingkart, Paytm Payments Bank, Shubh Loans, LoanTap and many more.
Also read: Fintech platform Shubh Loans bags INR 34 cr as part of series A2 funding round from Omidyar Network, SRI Capital, others