SUMMARY
- Finarkein Analytics has secured $4.75 million in its Pre-Series A funding round led by Nexus Venture Partners.
- The round also saw participation from existing investors and angel investors.
- The Pune-based company intends to deploy the fresh funds towards product development and expansion.
Finarkein Analytics, a data analytics startup, has secured $4.75 million in its Pre-Series A funding round led by Nexus Venture Partners.
This investment round also attracted contributions from a diverse group of investors, including existing backers such as IIFL’s Fintech Fund and Eximius Ventures, as well as angel investors including Nitin Gupta, the founder of Uni, and Chirag Jain, the CEO of Ashika Group.
The Pune-based company intends to deploy the fresh funds towards product development and expansion.
Established in 2019 by Nikhil Kurhe and Dheeraj Kumar, Finarkein Analytics specializes in providing a data analytics platform tailored for digital service providers. The company’s suite of services includes B2B Software-as-a-Service (SaaS) and data products designed to facilitate data-driven workflows.
Nikhil Kurhe has expressed his optimism about India’s unique approach to digital infrastructure, where a significant portion of the value is directly transferred to the end consumers. He believes that digital payment intermediaries, such as account aggregators, are playing a pivotal role in this process, and Finarkein is pleased to be a part of this transformative movement from its inception, aiming to further scale its impact.
Nexus Venture Partners’ Anand Datta said, “I have been following the account aggregator space fairly early and came across Nikhil and team Finarkein as winners of the AA hackathon back in 2020. They have only since doubled down on the space, and we have seen Finarkein single-handedly scale this vertical and build a new category from the ground up.”
This latest funding round marks Finarkein Analytics’ second investment since its inception, with the first round being a seed funding round that raised an undisclosed amount, co-led by IIFL’s Fintech Fund and Redstart Labs.
