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Fintech startup Ignosis has raised $4 Mn in its pre-Series A funding round led by Peak XV Partners’ Surge.
The round also saw participation from Razorpay Ventures, Force Ventures, CRED’s Kunal Shah and existing investors.
Read also- Climaty AI raises $2 million in funding led by Turbostart
The startup will use the fresh capital to expand its AI product roadmap, drive enterprise adoption, and strengthen governance and compliance.
“We believe Account Aggregators are set to become embedded in every financial transaction journey in India. Just as UPI became the default rail for payments, AAs are poised to become the default rail for secure, consent-driven financial data sharing,” Cofounder and CEO Nirav Prajapati said.
About Ignosis
Founded in 2022 by Nirav Prajapati and Chintan Sheth, the Ahmedabad-based Ignosis’ AI analytics platform provides accurate income verification, intelligent collections, spend analysis, portfolio/wealth insights, hyper-personalised nudges along with risk and fraud signals.
Ignosis tackles the systemic challenges holding back India’s financial data ecosystem. Despite rapid digitisation, more than 160 million Indian consumers remain credit underserved.
Most of them without a formal proof of income, remain excluded from affordable loans, insurance, and financial planning. Even 80% of MSMEs still struggle to access formal credit. It addresses these critical gaps with its Account Aggregator (AA) infrastructure and financial data intelligence platform.
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