Asset Management Startup TruBoard Partners has raised $2.7 million in funding from unnamed “marquee” investors.
The fintech firm plans to use the funds to strengthen its “PhyGital” delivery model and increase its presence in the country, especially in 40 Indian metros.
The Mumbai-based TruBoard Partners was founded in 2020 by Vipul Thakore (formerly Managing Director at Goldman Sachs), Nandkumar Surti (formerly Chief Executive Officer at JP Morgan Mutual Fund), and Srickant Rajagopal (formerly Principal at Piramal Group), It provides asset and credit monitoring services to global and Indian banks, NBFCs, AIFs and other financial institutions.
The startup also helps lenders to reduce their non-performing assets and improve credit quality.
The company aims to empower the Indian credit system and ultimately create credit penetration in the country with its PhyGital solutions. It also aims to grow its presence in 40 Indian metros, Tier 1 and 2 cities and create a 400+ employee base over the next 2-3 years.
The startup currently has over 100 employees and is present at 19 locations across India.
The firm aims to bridge the gaps in monitoring the post-investment lifecycle and collection network through its proprietary solutions, TruGenie and Truecollect.
Its TruGenie is a technology platform that uses data and predictive analytics to help institutional lenders and investors maximize their yields and manage risk from their portfolios in the post-investment lifecycle. It bridges this gap by using data-driven insights for predictions and monitoring the factors and dynamic environment that affect asset profitability post-investment and develops early warning signal systems for timely action.
Its collection platform, TruCollect, provides lenders with a pan-India collections network; a plug and play model, which allows lenders to focus on lending and risk management, while analytics, servicing and collections are managed by TruBoard and its pan-India network.
About TruBoard Partners
TruBoard Partners is an independent tech focussed monitoring solutions provider. They develop bespoke solutions for capital providers to manage their investments and improve post investment decision making. At TruBoard, they believe that managing investments require experienced professionals with sector & product expertise with a cloud-based technology platform which is accessible and robust. TruBoard Partners was started in 2020 by professionals with varied experience in credit markets, banking, credit underwriting, capital markets, asset management and monitoring. Their aim is to provide actionable insights through qualitative inputs and data analytics.
Their solutions will help to manage investments through their cloud based intelligent analytics platform that will enable enhanced decision making.