The IIFL Fintech Fund led a pre-Series A funding round for Fundamento, an agentic AI platform for financial services, which raised $1.9 million, or roughly Rs 16 crore. Other angel investors who participated in the round included Lead Invest, Epic Angels, Venture Catalysts, The Players Fund (supported by KL Rahul and Ben Stokes), and others.
Before this, Caesar Sengupta and other investors had contributed $1.56 million to the startup’s seed funding round.
Fundamento stated in a press release that the money will be used to improve its agentic AI build, which will clearly verticalize financial services across borrower profiling, upselling, and collections.
Ankit Durga, Megha Aggarwal, and Vickram Saigal co-founded Fundamento, an agentic AI business that specializes in intelligent borrower interaction solutions, in 2020. By serving as a strategic engagement layer, its AI-powered platform helps financial institutions improve customer satisfaction, increase efficiency, and streamline lending operations.
Through the integration of advanced technology and in-depth domain knowledge, Fundamento enables banks, NBFCs, and fintechs to provide more intelligent, expedited, and customized borrower journeys, resulting in improved business outcomes throughout the lending lifecycle.
In addition to breaking into new international markets, Fundamento hopes to increase its AI presence in India’s BFSI sector over the course of the upcoming year by working with prestigious enterprise clients. Targeting the US and APAC, the company sees great potential for its multi-agentic AI platform in the areas of debt collections, digital lending adoption, and financial services innovation.
The IIFL Fintech Fund made investments in fintech across a range of sectors during the previous four years. The portfolio includes the following: Castler, Vitra.Ai, EasyRewardz, Multipl, Riskcovry, FinBox, DataSutram, Finarkein Analytics, Finvu, Trendlyne, Insurance Samadhan, Xtracap Finance, and TrustCheckr (sold to True Caller).
