FinX raises $6 million in funding round from Elevar Equity

The skill-building platform FinX has raised $6 million in a funding round from Elevar Equity, an early growth stage investment firm.

Funding Utilisation

The Startup will be used to expand into new areas, offer more products, and branch into IT training. It will also be used to buy other skilling and training companies in finance and technology.

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 In 2019, the company acquired the Centre for Investment Education and Learning (CIEL), which helps employees improve their skills.

Himanshu Vyapak,founder and chief executive of FinX said, "We are trying to bridge the employability gap, make students job-ready, and offer job opportunities specifically focused on students from tier II and tier III cities. By shifting the focus of education toward practical skills, our goal is to enable graduates to become industry-ready professionals, There are two knowledge-based and large sectors in the country. One is the banking and financial services sector, which contributes almost 13-14% of the GDP, and the other large sector is IT services. Both of these sectors are the biggest employers in the country and have been growing steadily. While we continue to build on our strengths in the financial services sector, we will also expand into IT, including Global Capability Centres (GCCs),”.

 Sandeep Farias, founder and managing partner of Elevar Equity, commenting on the investment. "Education is not only a personal goal for underserved entrepreneurial families; it affects their job prospects, financial stability, and ability to improve their social status. We are excited to support FinX in its mission to improve employability and empower entrepreneurial households," 

About-FinX

Founded in 2019, the Mumbai-based edtech platform provides vocational courses in banking, financial services, and insurance (BFSI) to help students get job-ready. It has a team of over 80 employees and a network of more than 1,000 freelance trainers.

The platform has teamed up with universities and colleges to offer finance-focused courses and joint undergraduate and postgraduate degree programs, along with job placement assistance.

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