A number of investors contributed $1.3 million to the initial round of Finsire, a FinTech firm located in Chennai.
iSeed, Spark Capital, Devx, 1947 Rising, Adept Ventures, Portal Angel Investors, Purple Matters, DeVC India, and Lets Ventures also participated in the financing.
The co-founders of Razorpay and Mars Shoot Ventures, as well as Groww CEO Lalit Keshre and angel investors Shashank Kumar and Harshil Mathur, participated in the round.
Finsire intends to utilize the additional funding to grow the team, create more products, and support various integrations that are already in the works.
Finsire, founded in August 2021 by Shreyans Nahar, Mridul Manhas, and Subramaniam Chintamani, creates lending enablement services by enabling the use of digital assets as collateral.
The solution increases the lending potential of banks, NBFCs, FinTech companies, credit requirement distribution, and depositaries.