Aditya Hadi Pratama · · 1 min readBlinc Invest leads $3m round of Indian fintech firm
FinAGG, an India-based fintech firm, has raised US$3 million in a pre-series A funding round led by Blinc Invest, with participation from Prime Venture Partners.
FinAGG team / Photo credit: FinAGG
Founded in 2020, FinAGG helps businesses with supply chain management, including sourcing distributors and retailers as well as enabling loans for MSMEs. Since its inception, the firm has disbursed 12 billion rupees (around US$150 million) of credit through its Quick Cash Flow platform.
The company said that it has partnered with big corporations and brands to onboard distributors, suppliers, and retailers as borrowers. Currently, it has over 15 “anchor” companies that connect them with potential borrowers.
FinAGG was established by Nipun Kohli and R. Srinivasan, both of whom built an early payment platform called Priority Vendor.
The fresh funding will be used to launch new products, create more lending partnerships, and bring FinAGG to new cities.
Currency converted from Indian rupee to US dollar: US$1 = 79.86 rupee.
See also: These are the most active investors in India’s startups
Editing by Deepti Sri and Jaclyn Tiu
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