Finzy (owned and operated by Bridge FinTech Solutions Private Limited), a Bengaluru, India-based P2P lending platform, raised an additional $1m in Pre-Series A funding.
This round, which brought the total amount raised in Pre-Series A round to $2.3m, was led by unnamed financial service and insurance sector senior professionals and entrepreneurs.
The company intends to use the funds for geographical expansion and technology development.
Founded in 2017 by Abhinandan Sangam, Amit More, and Vishwas Dixit, Finzy is a peer to peer lending platform that connect borrowers looking for quick personal loans with low interest rates to investors who are looking for a new asset class that provides fair returns.
The business is powered by:
– a sales & operations team
– a tech team that works on an innovative digital platform and
– a credit risk assessment team that uses a proprietary credit assessment algorithm to ensure that the right borrowers are on the platform.
The company is NBFC-P2P certified by the Reserve Bank of India (RBI).