Total amount raised
$14 Million
Latest funding date
1/1/2024
Location
FinAGG has successfully completed three funding rounds, attracting investments from notable venture capital firms such as BlueOrchard Finance S A, SIDBI Venture Capital, and Tata Capital. The most recent funding event was a Series A round, led by BlueOrchard Finance S A and Tata Capital.
FinAGG offers invoice-based financing solutions for MSMEs in India, promoting business growth with a "Stock Now Pay Later" solution. Keep reading to explore the intricacies of FinAGG's fundraising journey and the investors backing this innovative platform.
What Is FinAGG?
FinAGG, based in Noida, Uttar Pradesh, India, operates in the financial services and fintech sectors. The company specializes in providing digital credit card solutions for suppliers, distributors, and retailers, facilitating the flow of goods and payments within the supply chain.
With a workforce of 101-250 employees, FinAGG offers quick cash flow and working capital solutions for MSMEs in India through invoice-based financing. Their services include a digital platform for easy onboarding, disbursement, and repayment of working capital, promoting business growth with a "Stock Now Pay Later" solution.
How Much Funding Has FinAGG Raised?
- Seed Funding Round
- Amount Raised: USD 3,000,000
- Date: September 2022
- Lead Investors: BLinC Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Early-stage development and scaling of operations.
- Series A Funding Round
- Amount Raised: USD 11,000,000
- Date: January 2024
- Lead Investors: BlueOrchard Finance S A, Tata Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow both online and offline presence, improve international reach, and spur product innovation, particularly in integrating blockchain technology.
- Debt Financing Round
- Amount Raised: Not disclosed
- Date: January 2024
- Lead Investors: Gray Matters Capital
- Valuation at Round: Not applicable
- Motivation Behind the Round: Typically used for operational expansion and working capital.
Total Amount Raised: USD 14,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- BlueOrchard Finance S A
- Details: BlueOrchard Finance S A is a global impact investment manager. It focuses on driving social and environmental change through its investments.
- Investment Focus Areas: Impact investments, social change, environmental change
- Notable Investments: Known for investments in microfinance institutions and impact-driven enterprises globally.
- Tata Capital Limited
- Details: Tata Capital Limited is a financial services company and a part of the Tata Group. It offers a wide range of financial services across various sectors.
- Investment Focus Areas: Infrastructure, real estate, consumer finance
- Notable Investments: Investments across a wide range of sectors including infrastructure, real estate, and consumer finance.
- Gray Matters Capital
- Details: Gray Matters Capital is an investment firm that provided funding to FinAGG through non-convertible debentures. It focuses on investments that have a significant social impact.
- Investment Focus Areas: Social impact, innovative financial instruments
- Notable Investments: Investments in social enterprises and impact-driven companies.
- BlinC Invest
- Details: BlinC Invest is a venture capital firm that participated in FinAGG's seed funding round. It focuses on early-stage investments.
- Investment Focus Areas: Early-stage startups, technology, innovation
- Notable Investments: Not publicly disclosed.
- Prime Venture Partners
- Details: Prime Venture Partners is an early-stage venture capital firm. It supports technology startups in their initial growth phases.
- Investment Focus Areas: Early-stage technology startups
- Notable Investments: Investments in early-stage technology startups, particularly in India.
What's Next for FinAGG?
FinAGG is poised to capitalize on significant opportunities in the fintech sector. With plans to expand its online and offline presence, the company aims to enhance its international reach and drive product innovation, particularly through the integration of blockchain technology. This expansion could significantly increase its customer base, especially among MSMEs, including women-led businesses.
Future fundraising opportunities appear promising, given the successful Series A round and previous funding. The integration of advanced technologies and the company's strong financial performance are likely to attract more investors. However, FinAGG may face challenges such as maintaining profitability while scaling operations, navigating regulatory requirements, and competing with other fintech companies.
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