Nexus Venture Partners has led a pre-Series A funding round for Pune-based Finarkein Analytics, which has effectively raised $4.75 million.
Existing investors, including Eximius Ventures and IIFL’s Fintech Fund, as well as venture investors like Nitin Gupta from Uni and Chirag Jain from Ashika Group, also participated in the round.
Finarkein Analytics has created a data and workflow platform that allows enterprises to collaborate on the development of data products on India’s rapidly expanding digital public infrastructure (DPI), which includes the account aggregator (AA) ecosystem and ONDC-Financial Services.
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The company has been a pioneer in the use of DPI to improve the accessibility and utility of data for both businesses and consumers.
Finarkein’s platform has become a prominent enabler for the publication and consumption of data on DPIs by more than 50 enterprises. The company has reported that over 40 million Indians have utilized Finarkein’s embedded data products to securely share data and grant consent through licensed NBFC-AAs.
Nikhil Kurhe, Co-founder and CEO of Finarkein, said: “India’s approach to digital infrastructure has been unique wherein a lot of value is directly passed onto end consumers. DPIs like the account aggregator are only accelerating this, and at Finarkein we’re glad to be a part of this movement from day zero and scale it further. Finarkein’s trusted data products will play a significant role in unleashing the potential of DPIs in India and beyond,”
About Finarkein Analytics
Founded in 2019 by Nikhil Kurhe and Dheeraj Kumar, Finarkein Analytics are the builders of Flux: A responsible analytics platform. Businesses can leverage Flux to connect, consume, and publish data from various data sources including upcoming Open Digital Ecosystems like Account Aggregators and HealthStack.
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