With participation from Prime Venture Partners and a pre-series A investment round led by Blinc Invest, the India-based fintech company FinAGG has secured US $3 million.
FinAGG, which was established in 2020, assists companies with supply chain management, including locating distributors and merchants and facilitating financing for MSMEs. Through its Quick Cash Flow platform, the company has granted credit totaling 12 billion rupees (about $150 million) since its start.
The business claimed to have teamed up with major brands and organizations to bring in distributors, suppliers, and retailers as borrowers. At the moment, it has more than 15 “anchor” businesses that link them with prospective borrowers.
Nipun Kohli and R. Srinivasan, who together developed the Priority Vendor early payment technology, founded FinAGG.
The additional cash will be utilized to introduce FinAGG to more locations, offer new products, and expand loan agreements.
