B2B Fintech Vijya Fintech Private Limited (VFPL) has raised follow-up funding. It secured an additional Rs 7 crore bringing the total investment in the company to Rs 15 crore.
Among the investors are Lemon Tech, Lemon Emerging Ventures, Veloce Fintech, and Tech Experts, comprising CXO-level executives from leading global tech firms in the USA.
VFPL’s initial funding round in 2022 saw an influx of investments (Rs 8 crore) that were deployed towards product development and team expansion, enabling it to recruit top talent from prestigious institutions such as IITs and IIMs. Meanwhile, the company said that it will use the funding in propelling growth initiatives, bolster go-to-market strategies, and expand market reach.
The fresh funds will catalyse the launch of MIDASX, an innovative B2B2C Marketplace poised to transform financial interactions, the company said in a release.
“In addition, major efforts will be directed towards integrating Data Analytics through the Account Aggregator framework, venturing into a new era of investor behavior and money management. Furthermore, the company’s roadmap includes incorporating AI capabilities to provide enhanced insights and personalised solutions for its customers, further enriching their experience, it said.
Aakash Bansal, co-founder and CEO of Vijya Fintech, said, "The newly raised funds shall help us fast-track growth and bring digital-first affordable solutions to financial intermediaries through MADOSX and MIDASX.”
Adding to this sentiment, Paresh Paladiya, co-founder and CTO of Vijya Fintech, shares his perspective on technology advancement, saying, “We'll leverage these funds to build a cutting-edge, scalable platform that rivals global systems. This platform will deliver previously unavailable, impactful financial solutions to the Indian market.”
Vijya Fintech is India's first and largest financial intermediary multiverse, delivering state-of-the-art panoramic wealth management software solutions (MADOSX) with multi-asset execution and reporting capabilities.
