Trade finance company focused on addressing a $525B shortfall in trade financing in India, particularly for SMEs. Operates as an "NBFC Factor", which is a specialised NBFC license from the RBI, for firms focused on purchasing a company's accounts receivables in exchange for immediate WC. It provides invoice discounting, factoring, supply chain financing and cross-border trade credit. No information on current scale. $15M round which is a mix of debt and equity (mix undisclosed). Led by Nicolas Walewski, founder of Alken, an asset management firm in London. Founded in Jan 2024. Founders: Taranjit was the Head of Corporate Banking in India for Barclays for nine years, after stints at Citibank, ICICI (their PE fund of funds) and Bank of America; Ajitabh worked cross Barclays investment banking and corporate banking for 17 years. Comps: M1xchange, A.TREDS, Receivables Exchange of India.

Agentic AI led platform for consumers to improve their credit scores. The platform combines actionable credit insights, EMI management and rewards for responsible customer behaviour. ₹100CR in credit repayments and 2M users since launch, now approaching $1M in annualized revenue. $7M seed round. Angels in the round: Vidit Aatrey and Sanjeev Barnwal (Meesho), Ramakant Sharma (Livspace), Abhishek Goyal (Tracxn), Rajesh Yabaji (BlackBuck), Nitin Gupta (Uni), Madhusudan R (M2P), Anil Goteti (Scapia) and Arnav Kumar (Leap). Founders: Utkrishta (IIT Kharagpur) was the Chief Experience Officer at Meesho. Founded in Jan 2024. Comps: Moneyview (Apis, Tiger Global) and CRED provide credit tracking amongst other services.

AI driven stock discovery and analysis platform - not a trading platform but a tool to help analyze stock fundmentals, technical indicators and sector trends. Operates on a freemium model, no numbers around usage or revenue scale. ₹2.4CR pre-seed round from undisclosed investors. Founders: Girish, the CEO, was most recently President & CTO of YES Bank Securities; Soundar was with TCS for 12 years and Siemens for 11 years prior to founding financial advisor 4S Planners. Founded in Nov 2023.

Trading platform with a de-cluttered UX for a younger audience, with trades executed without jumping across screens along with personalised stock reports and portfolio breakdowns. Recently received a brokerage license from SEBI. Acted as a sub-broker for three years, with 150K registered users and 6K daily trades so far. $1M seed round. Other investors in the round: Paras Defence. Founders Vedant (Christ University drop out), Aryan (Jai Hind College) and Siddharth (Narsee Monjee) started Trackk out of college. Founded in May 2021.

InsureTech startup offering Infrastructure as a Service (IaaS), i.e. a platform for businesses to offer insurance products to employees and partners. It earns revenues through policy distribution, commissions on premium and for the tech layer it provides. For e.g., it has a partnership with Battery Smart to offer natural calamity insurance to its battery charging station partners. ₹6CR round. Founders: both CEO Anuj (NMIMS, IIM Bangalore) and Head of Product & Marketing Sanil (NMIMS, ISB) were co-founders of Healthysure, an employee benefits platform, for four years. Healthysure was also backed by IPV and Capita-A, amongst others; Founded end 2022/early 2023.

Fintech platform for NRIs which operates out of GIFT City. Offers USD denominated fixed deposits in India at a 5% interest rate (higher than can be earned outside India), along with compliance and tax filing services for NRIs. The company has taken a Payment Services Provider (PSP) licence and a broker-dealer licence. It now plans to roll out mutual funds, Indian and US equities and insurance products to its clients. $5M seed round. Angels in the round: Abhiraj Singh Bahl + Varun Khaitan (Urban Company), Akshant Goyal (Zomato), Varun Alagh (Mamaearth), Vineet Sethi (PayU), Aditya Sharma (McKinsey). Founders: Ankur (CEO), Savitri (COO), Ayush (CTO) and Sai Sankar (CBO) all worked together at Niyo (global travel cards) - they were respectively VP of Product, Chief Customer Experience Officer, VP of Engineering and CBO at Niyo. Ankur, Savitri and Ayush also built Goalwise together (as CPO, COO and CTO) - a mutual funds investment platform acquired by Niyo. Founded in Jan 2024. Comps: Rupeeflo (Piper Serica).

B2B solution for FinTech platforms (brokers, payment apps and wealth-tech companies) to offer a broad range of investment products (from multiple banks and NBFCs) to their clients. Over 30 FinTech companies like Mobikwik and Upstox currently offer fixed deposits and will soon be able to offer other investment and savings products. ₹4CR (~$470K) seed round, including funds raised earlier in the year from Mobikwik and Kapil Bharti (Delhivery). Founders: Ravi comes from PKC Advisory (close to a decade); Sandeep is from IndusInd, YES Bank and ICICI; Uday founded Teknomatics (IT services); the fourth founder Pankaj Pratap Singh is the CTO, who worked briefly at Teknomatics. He is not linked here. Founded in 2021.

All in one payments platform for finance teams to manage vendor payouts and employee reimbursement, while automating accounting and managing tax reconciliations. Clients across BFSI, retail and media include Plum Insurance, Fibe and Sprinto. The company has processed ₹3000CR of invoices so far. ₹6CR ($700K) pre-seed round. The co-founders, Pratik and Devyanshu, are from Pratilipi - product management/the CEO's office and software engineer respectively. Founded in Jun 2023.

Fixed income investing platform for institutional as well as retail investors - corporate bonds, government securities. Its public bond directory covers over 20,000 bonds. ₹32.5CR ($3.8M) first external funding round from undisclosed individual investors. Founders: Vishal has been a trader for over 20 years including 12 years at Deutsche Bank; Aditi comes from 20 years at family owned bond house - A K Capital Services. IndiaBonds was founded in Jan 2021.

Wealth management firm to give access to - as the name suggests - alternative investments. Claims to have onboarded 100 HNI clients. ₹1CR seed round from undisclosed family offices. Founders: the CEO had a brief stint at Client Associates and as a Wealth Advisor to the founder of "one of India largest gaming company's"; the other co-founder was at Client Associates for close to five years.