Fixerra secures $1.6m in a Seed Round led by Industry Titans
By Gloria Mathias
January 24, 2024
- Angel investors Family offices.
- API-enabled banking infrastructure
- Bajaj Finance
Embedded finance startup Fixerra, formerly Fixed Invest, has announced that it has raised $1.6 million (INR 14 crore) in a seed round from marquee Angel investors and family offices.
The round also witnessed investments from the family office of Harish Shah, a veteran industrialist and Managing Director of Signet Excipients, along with angel investor Shivang Desai. Industry leaders like Jaideep Hansraj, Managing Director of Kotak Securities; Shailesh Haribhakti, Chairman of Shailesh Haribhakti & Associates; and Oisharya Das, CEO of Kotak Private, were some of the investors who also participated in this round.
With the fundraiser, Fixerra also announces that it has rebranded itself from its earlier avatar Fixed Invest, which is a marketplace for Fixed Deposits. With the rebranding, Fixerra expands its horizon to be comprehensive banking as a service provider. Fixerra will help digital businesses launch banking products quickly and compliantly.
Shailesh Haribhakti, Chairman of Shailesh Haribhakti and Associates, said, “We are excited to back Fixerra’s vision to bridge a gap between banks and fintechs that helps enable consumers to explore a broader range of superior banking services.”
Currently, Fixerra is actively expanding its banking partnerships and enhancing its product with additional features. It has charted out an aggressive growth roadmap and wants to power over 200 digital businesses with its banking as a service suite over the next 3 years.
Founder and CEO of Fixerra, Akshar Shah, said, “We want to become a digital mall for banks. Over the next 3 years, we are going to focus on building infrastructure for marketplaces across multiple banking products.”
Fixerra is an embedded finance startup helping digital businesses launch banking products. It has built an easy-to-integrate fixed deposit gateway with partnerships across seven banks and NBFCs. The platform leverages API-enabled banking infrastructure with different deposit-taking financial institutions, addressing the entire fixed deposit lifecycle, from discovery to post-investment services.
Investment platforms, independent financial advisors, wealth houses, and even payment apps can customise fixed deposit offerings for their clients and go live within a week with a white-labelled solution.
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