In a seed round led by HNIs and the family offices of K.I. Varaprasad Reddy, Rahul Gedupudi, Sreeman Chalasani & Srinivas Kalagara, and others, the fintech startup ProFinTech Technologies raised $1.4 million.
According to a press release from ProFinTech, the money will be used to expand the company and offer cutting-edge products to the market.
ProFinTech, which was co-founded in 2022 by Ravi Tanniru and Sandeep Kunkunuru, uses data-backed trade recommendation and financing fulfillment engines to provide MSMEs with a user-friendly interface for securing funding while doing away with the complications that come with traditional financing apps and documentation procedures. It addresses significant obstacles faced by small businesses looking for easier and faster funding options.
In order to expand its supply chain and trade financing operations, the Hyderabad-based company hopes to fortify its relationships with banks and NBFCs. The company is going to launch new features and improvements for its products that will help MSMEs grow their businesses and benefit them even more.
The Machine Learning and Artificial Technology Hub (MATH) Center of Excellence at T-Hub in Hyderabad serves as the operating base for ProFinTech, which is incubated there.
Transaction-level credit readiness scores, live-transaction funding, zero processing fees, and automated financing recommendations are just a few of the products that ProFinTech claims to have introduced.
