FINQY raises $2m funding to spearhead FinTech innovation and expansion

By Gloria Mathias

FINQY, an India-based FinTech, known for the distribution of financial products, has secured $2 million in funding.

Founded in 2019 by Manish Aggarwal, a seasoned entrepreneur with over 25 years of BFSI sales experience, FINQY stands out with its unique approach to utilizing technology to empower sales professionals in the insurance, credit card, and loan sectors through its innovative B2B2C business model.

With the support of over 100 financial and banking partners, it equips financial distributors with an advanced AI-powered tool. FINQY and its other variations help streamline complex financial decisions across credit cards, insurance, and loans. They also significantly enhance customer engagement and facilitate informed decision-making, marking a significant industry shift.

With ambitious plans to expand its customer base and other sister product offerings, FINQY aims to consolidate its position in the Indian FinTech ecosystem.

Manish Aggarwal, Founder and CEO of FINQY, shared, “The confidence shown by investors and customers reaffirms our belief that we are on the right path to address key challenges in the financial market. In today’s information-rich environment, customers seek clarity amidst overwhelming and often inaccurate data. Our mission is to demystify financial services, making them accessible to everyone.”

“I am excited that our efforts are making a positive impact, facilitated by technology that simplifies decision-making despite the myriad options available. Our vision is to revolutionize financial services distribution through technology and partnerships. Looking ahead, we are committed to introducing additional tools that empower a wide spectrum of financial distributors and customers, aiming to simplify financial decisions and enhance accessibility,” added Aggarwal.

Over the next 3–5 years, FINQY aims to achieve unicorn status and solidify its position as India’s foremost aggregation platform for financial intermediaries. FINQY is dedicated to transforming the BFSI landscape by integrating advanced technologies such as AI, machine learning, and data analytics into its platform.

FINQY’s forthcoming initiatives include developing Q, a personal finance manager app and Test My Card, a credit card-focused product. The company is also exploring investment and wealth management solutions, reinforcing its commitment to innovation and comprehensive financial services.