Navanc is a fintech startup that provides credit scores for assets and real estate properties. The startup secured 1 million USD in its ongoing seed funding round from Prarambh Ventures. Inflection Point Ventures, Marquee angel investors, and Brigade REAP Firstport Capital also participated in the funding round. The company plans to use this fresh capital to scale its operations, improve its performance capabilities, enhance its platform, and strengthen its market presence.
The startup plans to use some of this investment to advance its financial services network and enhance its presence in urban and semi-urban areas. The company uses generative artificial intelligence and computer vision models. The platform provides solutions for lending, insurance, and financial analysis. The company aims to strengthen its market presence while increasing its customer base across the fintech market. The startup provides a platform with AI, IoT, and blockchain technologies for the best user experience.
The startup data intelligence platform, tracxn mentioned that before this funding round the firm secured around $300k million across one funding round since its inception. The company secured this amount during its seed funding round from Chattanathan D, Kunal Shah, and other investors in 2022. The company also posted a post-money valuation of $983k. The startup has investors including IIMA Ventures, Brigade REAP, and Inflection Point Ventures. Before this funding round, Brigade REAP was Navanc’s largest institutional investor.
The Bengaluru-based startup solves several challenges and ensures transparent, secure, and reliable transactions in the proptech sector. The company wants to make financial and lending services easily accessible, and transparent to its users. The development came just after the fintech sector saw increased investor interest. Navanc faces competition with other credit-score offering fintech platforms like Dvara E-registry, KarmaLife, and others.
The fintech startup operates its services in six states of India. The firm recently launched its Bharat Vision and aims to expand its reach in all states under this project. The startup plans to use this new investment to enhance its credit decision-making platform while improving portfolio management for the BFSI industry. The investment shows investor’s trust in Navanc’s market potential and business model.
Conclusion :
Navanc is a credit decision-making fintech startup that secured $1 million from Prarambh Ventures in its ongoing seed funding round. The seed round saw the participation of the firm’s new and existing investors including Inflection Point Ventures, Marquee angel investors, and Brigade READ FirstPort Capital. The company intends to use these fresh proceeds to expand its categories, scale its operations, and enhance its platform while strengthening its presence in urban and semi-urban areas.
The credit decision-making platform provides various solutions including financial analysis, collateral reporting, and portfolio management. The company aims to improve its innovation while making its platform secure, transparent, and reliable for the proptech sector. The development came just when the fintech sector saw increased investor interest. This fintech startup faces competition from other credit score offering platforms in the same segment including KarmalIfe and propertyGuru.
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