WestBridge Backs Finfactor’s $15M Push to Power India’s Open Finance Rails
Finfactor’s new $15 million war chest is more than just another fintech funding headline—it’s a bet on India’s open finance rails becoming mainstream infrastructure for banks, lenders, and wealth managers.[1][2]
Finfactor’s $15M bet on open finance
Indian fintech firm Finfactor, parent of RBI-licensed account aggregator Finvu AA, has raised $15 million in a Series A round led by WestBridge Capital, with participation from existing backers Varanium Capital, DMI Sparkle Fund, and IIFL Fintech Fund. The Pune-based company previously raised $2.5 million in 2022, taking total known funding to at least $17.5 million.[2][3][4][1]
Finfactor plans to use the fresh capital to expand its product suite, deepen its analytics stack, and position itself as a full-stack technology provider to banking, financial services, and insurance (BFSI) clients. The new funds will also support team expansion as the company chases larger enterprise deployments across lending and wealth management.[3][4][1][2]
Inside Finvu’s data plumbing for BFSI
Finvu AA is one of the first RBI-licensed account aggregators in India and has already facilitated secure, consent-based financial data sharing for more than 50 million consumers. The platform works with a wide spectrum of financial institutions—banks, insurers, stockbrokers, and investment advisers—to enable real-time, permissioned data flows.[4][1][2][3]
Through Finfactor, the group offers AI-driven and analytics products such as a multi-AA gateway, bank statement analysers, loan monitoring and collections tools, and wealth management capabilities. These solutions power over 150 BFSI clients, including major names like HDFC Bank, Axis Bank, Motilal Oswal, Canara Bank, and CRED, backed by a team of more than 120 professionals.[1][2][3][4]
Why this round matters for India Stack
Finfactor’s trajectory is tightly coupled to India Stack and the account aggregator (AA) framework, which together complete a digital stack spanning identity, payments, and consented data sharing. Investors see AA rails as the next growth layer on top of UPI, enabling more precise underwriting, personalized wealth products, and faster, lower-friction lending.[5][2][4][1]
For lenders and wealth managers, Finfactor’s tools promise cleaner data, automated analysis, and better risk visibility at scale, which could shrink turnaround times for loans and expand access to formal credit. In the broader context, the deal lands in a still-resilient Indian fintech market, where startups are expected to generate over $133 billion in cumulative revenue by 2030 and raised more than $1.6 billion in just the first half of 2025.[6][4][1]
Quick comparison snapshot
| Aspect | Finfactor / Finvu AA highlight |
|---|---|
| Latest funding | $15M Series A led by WestBridge Capital [1][2][3] |
| Prior funding | $2.5M seed in 2022 [3][4] |
| Core role | Tech provider for India’s open finance and AA infrastructure [1][2] |
| Users served | 50M+ consumers via Finvu AA [1][2][3] |
| Clients | 150+ BFSI firms (HDFC Bank, Axis Bank, CRED, etc.) [1][2][3][4] |
| Key products | Multi-AA gateway, analytics, lending and wealth tools [1][2][3] |
Glossary
- Account Aggregator (AA): A regulated entity that enables secure, consent-based sharing of a customer’s financial data between institutions, without storing that data itself.[2][5][1]
- India Stack: A set of national digital public infrastructure layers—including identity, payments, and data-sharing rails—used to build scalable digital services.[5][1][2]
- BFSI: Banking, Financial Services, and Insurance—an umbrella term for institutions providing financial products and services.[6][2]
Source: https://www.techinasia.com/news/indian-fintech-firm-finfactor-nets-15m-series
