Finfactor, the parent company of RBI-licensed account aggregator Finvu, has secured 15 million dollars in a Series A funding round led by global investment firm WestBridge Capital. The round also saw participation from existing backers, including Varanium Capital, DMI’s Sparkle Fund and IIFL Fintech Fund, underscoring sustained investor confidence in India’s fast-growing account aggregator ecosystem. The Pune-headquartered company plans to deploy the fresh capital to deepen its technology stack and widen its suite of solutions for banks and financial institutions.
Finfactor said the new funds will be channelled towards expanding product capabilities across lending, wealth management and data analytics, with a clear focus on becoming a full-stack technology partner for the BFSI industry. The company intends to invest in building scalable, API-first platforms that can plug into banks, NBFCs, insurers and other regulated entities, helping them unlock consented data for smarter underwriting and personalised offerings. Strengthening its analytics layer and AI-driven decision engines is a key priority as financial institutions increasingly rely on granular data to manage risk and improve customer experience.
Finvu, operated by Cookiejar Technologies, is among the early RBI-licensed account aggregators and enables secure, consent-based data exchange for consumers across banks, insurance, securities and other financial products. The platform claims to have facilitated access to financial information for more than 50 million users through its network. Its enterprise offerings include a multi-account aggregator gateway, bank statement analysis, loan monitoring tools and allied data infrastructure products. These solutions currently cater to over 150 BFSI clients, including leading banks such as HDFC Bank and Axis Bank, as well as digital-first players like CRED.
Co-founders Manoj Alandkar and Munish Bhatia have broadly emphasised that the new capital will be used to make financial data more reliable and insight‑driven for banks and wealth managers, while expanding teams and speeding up product development for lending and wealth‑management use cases.
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With the latest funding, Finfactor aims to scale its team, accelerate product innovation and deepen market reach across India’s open finance landscape. The company is betting on the rapid expansion of the account aggregator framework, which is emerging as a critical pillar of India Stack and open-credit enablement. Industry watchers see this round as another validation of the account aggregator model, which is expected to power the next phase of digital lending and wealth-tech growth in India.
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