Finarkein raises $1.5 Mn in pre-Series A round led by DSP Group Family Office

Fin-tech startup Finarkein has raised $1.5 million in an extended pre-Series A funding round which is a mix of primary and secondary investments. This round was led by DSP Group Family Office with participation from existing investors. 

The Pune-based company had previously raised $5.78 million in a seed funding round from Nexus Venture Partners.

The fresh capital will be used for data privacy, security and compliance as its data products further power Indiaʼs financial markets, Finarkein said in a press release.

Co-founded in 2019 by Nikhil Kurhe, Dheeraj Kumar, Aakash Narendra Agrawal, and Pradip Machindra Waghmare, Finarkein is a  financial technology company specializing in open finance, data intelligence and AI infrastructure, empowering over 100 BFSI companies to leverage Account Aggregator framework, OCEN and ONDCFS. The company is dedicated to providing robust and scalable solutions that address the evolving needs of the financial industry.

"Our platform continues to be a market leader in the Account Aggregator space, offering best in class experience combined with privacy preserving technologies, which is vital in the data space," said Nikhil Kurhe, CEO of Finarkein. 

Finarkein specializes in open finance, data intelligence, and AI infrastructure. The company helps financial institutions and other businesses build on top of emerging DPIs, including the Account Aggregator (AA) ecosystem. Its platform Flux helps businesses leverage data from various sources. Key features include OpenDataOS, Flux platform, and Smart Collect.