AI-Driven Instant Loans Marketplace Afinoz Receives Seed Funding From Top Silicon Valley Investors
- Noida-based fintech Afinoz has raised an undisclosed amount as seed funding from investors in Silicon Valley, including the head of the fintech innovation lab at the world’s largest bank
- Afinoz will use the funds to move towards its vision of “if anyone can finance you, we’ll get you there with the lowest interest rate in the shortest possible time.”
- With this fund, the start-up will be very close to having a complete base to realize its vision and will just have to focus on very rapid growth to become a leader in a market of 1 billion people, offering an opportunity of 1 trillion. of dollars.
The founding team of Finoz includes the world’s youngest CFO of a US listed company with over $ 6 billion in capital raised to create global companies and list them on the US, UK and Asian stock exchanges. . The team used the best of Western and Indian banking experience as well as over 18 years of capital market experience, which helped the company to have a very clear problem-solving business model.
Rachna Suneja, co-founder of Finoz, says: “We always wanted to prove our thinking and use external capital only after we got enough data to prove the same. It’s a big responsibility when someone trusts you and brings you capital, which is why we ourselves wanted to be sure, before making others believe. Successful businesses are the ones that really solve a customer problem, therefore from day one we only focus on the problem and customer satisfaction, growth is a natural result ”.
“The financing will help us provide all possible financing options for ‘unaffected by the bank’ clients with cash salary, low or no credit score, an emerging entrepreneur who recently obtained loans from new loan providers snapshots like Moneytap, Ratra, Dhani, Red Carpet etc, but there is no specially designed platform to bring all of these financing options together in one place so that the entire one billion people can be served in one place by completing a single application and get approval and disbursement almost in real time. “says Naveen Agarwal, CTO of Finoz.
In addition to focusing on the small loans required by 1 billion people, Afinoz is one of the few that has full real-time integration with larger banks like HDFC so that the loan application is completed once online. can be submitted, reviewed and approved in real time. on a time basis, instead of just generating the lead online and having it processed manually by the respective banks, which has been a common practice for quite a long time.
Afionz has already achieved the 3rd best domain authority, organically positioned on the 1st page on google search for over 1000 finance keywords and achieved over 300,000 downloads of applications with the best position on keywords – keys like business loan, personal loan, etc. within 6 months. Operating.
Disclaimer: This article is an ET Spotlight partnership initiative with Afinoz