Personal finance startup Finanjo raises Rs 1.5 Cr Pre-seed funding from AJVC
Finanjo, a personal finance startup based in Jaipur, has raised Rs 1.5 crore in a pre-seed funding round, with full support from Aviral Bhatnagar’s early-stage venture fund AJVC.
The funds will go toward product development, which will include enhancing decision intelligence, bolstering Finanjo’s AI assistant Jo, and growing goal-based and credit optimization functionalities. Additionally, it will be used to improve the infrastructure of Account Aggregator, develop regulatory and compliance readiness for upcoming financial product integrations, hire personnel from product, engineering, and content teams, and scale user acquisition through partnerships and community-led channels.
Prithviraj and Pankaj Singh Chauhan founded Finanjo, a behavior-first personal finance platform targeted at young Indian consumers. Backstage with Millionaires, a YouTube channel that covers Indian startups and entrepreneurship, was also co-founded by the founders.
Finanjo gives users a consolidated, real-time view of their savings, spending, investments, and liabilities using AI and India’s Account Aggregator framework. Through its platform, it also provides data-backed financial advice.
The startup reports more than Rs 25 crore in connected savings on the platform, has onboarded over 5,000 users within weeks of its beta launch, and has about 500 active users every day. Through commissions on mutual fund and fixed deposit referrals, it has already made money.
The AJVC, which is led by Aviral Bhatnagar and has been actively supporting early-stage startups, has added Finanjo to its portfolio. Mindcase, Care Dale, HandyPanda, Multibagg AI, Nuyug, Mithila Foods, Jaagruk Bharat, TruFides AI, Chop Finance, Gaadi Mech, and Iztri are among the companies that the fund has invested in.
