Fintech platform Fego.ai has raised $1.5 million seed capital from 3one4 Capital, Saison Capital, Eximius Ventures, First Cheque, Speciale Invest.
Angel investors including Kunal Shah, Suhail Sameer, Shashvat Nakrani, Lalit Keshre, Madhusudhanan R, Prabhu Rangarajan, Aprameya Radhakrishna and Amit Goel also participated in the round.
The startup plans to use the funds to strengthen and expand its developer offerings, build its team as well as augment the pace towards the public launch of its offerings.
Launched in 2020, Fego offers an open-finance product stack for developers and companies to embed insightful financial experiences and personalize user engagement. Its APIs enable companies to build on top of Fego to connect users’ financial accounts, enrich customer experience and understand users’ financial behavior across use-cases like lending, KYC, collections, wealth.
The Chennai-based firm competes with open-finance startups such as Mx.com, Tink, Truelayer, Flinks, among others and is working with fintech startups, financial institutions and consumer internet companies.