Data Sutram, an emerging B2B SaaS firm, successfully raised $3 million in its newest fundraising round to further its purpose of assisting enterprises in the Banking, Financial Services, and Insurance (BFSI) sector in finding answers for growth.
The investment demonstrates investors’ faith in Data Sutram’s vision, technology, and product capabilities. Bharat Fund is leading this round of fundraising, with participation from Singularity Growth Fund, IIFL, YAN, White Venture, and other current investors. This is a big step forward in the startup’s development, allowing it to strengthen its product portfolio and drive expansion in the BFSI sector.
Data Sutram specialises on solving key banking problems by giving insights generated from GDPR-compliant data collected from over 250 sources. Their Find, Authenticate, and Grow product package has garnered substantial traction with major banks, Non-Banking Financial startups (NBFCs), and fintech startups worldwide.
Rajit Bhattacharya, Founder & CEO of Data Sutram, expressed his excitement over this donation, saying, “This funding comes at the right time and gives us the horsepower needed to accelerate growth. Over the last year, we have been focused on acquiring talent and developing deep tech products powered by external intelligence. Senior leaders from the BFSI domains are now leading sales, product development, and engineering efforts. This addition of funds coupled with human capital will give us the necessary edge to drive innovation within the fintech space. We are excited to see what the future holds.”
The money raised will be used to improve Data Sutram’s product offerings, which are geared primarily at improving customer acquisition, credit underwriting, fraud investigation, and collections in the financial services sector.
Data Sutram has effectively structured data on more than 60 million enterprises and 1 billion consumers over 20,000 pincodes and 200+ categories. With this plethora of data, they can deliver insights that promote smart growth and mitigate risks. The company’s most recent product offerings were recently recognised at the Global Fintech Fest 2023 (GFF), where industry experts recognised their vision for financial inclusion and developing resilient systems.
Upendra Namburi, Chief Business Officer at Data Sutram, has also joined the company’s executive team. Namburi has extensive expertise in the banking and insurance sectors, having held positions of leadership with Bharti AXA General Insurance, SBI Cards, ICICI Bank, and ABN AMRO.
“Banks and financial service organizations now need to play smarter to gain share and profitability. Our products offer the edge required by product, sales, and risk professionals to accelerate growth and increase business efficiency, like never before,” said Upendra Namburi, Chief Business Officer at Data Sutram.
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