FinAGG Technologies, a fintech startup offering cash-flow based supply chain finance, has raised $3 million in its pre- Series A round led by BLinC Invest. Existing investor Prime Venture Partners has also participated in this round.
The Noida-based firm will use the fresh capital to launch new products, expand current products in new cities, augment lending partnerships, and invest in technology.
Started in 2020 by Nipun Kohli and R. Srinivasan, FinAGG is a new-age supply chain platform focused on providing closed-loop credit solutions to distributors, retailers and MSMEs via its proprietary platform Quick Cash Flow.
The startup said that it has partnered with over 15 brands and has disbursed over Rs 1,200 crore till date.
Founded by Mr. Amit Ratanpal, BLinC Invest is an Rs 100 crore fund based out of Mumbai and it invests in only two sectors – Fintech and Edtech. The fund aims to make 5-7 investments across fintech and edtech with an average ticket size of Rs 10-20 crore in 2022.