Chennai-based FinTech Finsire raises $1.3m in seed funding

By Leandra Monteiro

Chennai-based lending Infratech and asset collateralization API FinTech Company, Finsire announced that it has raised $1.3 million in seed funding from Strategic Investors.

The round saw participation from iSeed, Spark Capital, Devx, 1947 Rise, Adept ventures, Portal Angel Investors, Purple Matters, DeVC India, Lets Ventures, Shashank Kumar and Harshil Mathur, Co-Founders of Razorpay and many more.

Shreyans Nahar, CEO and Co-founder of Finsire, said, “Excited to build the Digitized secured infrastructure for India. Once in a lifetime opportunity for us; Indian households hold over 14 trillion dollars in assets, and global households’ assets are over 400 trillion dollars. Today these assets are extremely hard to pledge. The idea is to allow the asset holder to do what they wish to do with these assets.”

Shiva Singh Sangwan, Founder, 1947Rise commented, “Finsire is building the secured credit Infrastructure for India by collateralizing the vast majority of the assets available in the country. Digitizing these is a long game. I am super excited that Shreyans decided to move back to India to build Finsire from India.”

Finsire builds lending enablement services by permitting digital assets to be taken as collateral. The solution allows Banks, NBFCs, FinTechs, credit requirement distribution, and depositaries to maximise their lending capabilities.