India-based Fintech Company FinBox Raises $15 Million

FinBox, an India-based B2B credit infrastructure fintech, has announced a fundraise of USD 15 million.

A91 Partners led this round with participation from Aditya Birla Ventures and Flipkart Ventures. Existing investors Arali Ventures also participated in the round.

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FinBox will use this capital to scale its offerings and expand to Southeast Asia. The company announced that it'll also be doubling its current workforce to power its expansion.

FinBox's technology enables any digital platform (both fintech and non-fintech) to launch digital credit products such as BNPL, personal loans, working capital loans, invoice financing, while its Data Products provide the requisite intelligence to make optimum credit decisions.

Apart from its API stack, FinBox provides credit risk intelligence to more than 25 banks, NBFCs, fintechs, and credit marketplaces. Its alternate data product suite predicts and helps price credit risk and further drive collections and cross-sells to borrowers.

FinBox is now going after large enterprise clients across lenders and conglomerates. The wave of digitisation and decentralization of finance is prompting even the legacy companies to recraft their offerings and FinBox is already working with many Nifty50 companies to launch new-age financial services.