Finsire, a Chennai-based fintech startup, has raised $1.3 million in a seed round from a clutch of investors.
The round saw participation from iSeed, Spark Capital, Devx, 1947 Rise, Adept ventures, Portal angel investors, Purple Matters, DeVC India, and Lets Ventures.
Razorpay and Mars Shot Ventures co-founders Shashank Kumar and Harshil Mathur and Groww CEO Lalit Keshre are among the angel investors who joined the round as well.
Finsire plans to use the fresh capital towards increasing the team size, building more products, and serving numerous integrations in the pipeline.
Started by Shreyans Nahar, Mridul Manhas, and Subramaniam Chintamani in August 2021, Finsire builds lending enablement services by permitting digital assets to be taken as collateral.
The solution allows banks, NBFCs, fintech firms, credit requirement distribution, and depositaries to maximize their lending capabilities.