Finverv, an embedded lending infrastructure platform has raised a pre-seed funding led by Antler India. This round also saw participation from Force Ventures, Asan Ventures, Luckbox Ventures and notable angels like Ashish Taneja (GrowX Ventures), Anuj Khosla (CEO, Hitachi Payments), Nitin Gupta (CEO, Uni Cards), Pravan Malhotra (Malacca Ventures), Vibhor Sahare (CEO, ANS Commerce), Avinash Kumar (Founder, Credence) and others.
Founded in November 2021 by repeat entrepreneurs Sangeet Verma and Siddharth Bhardwaj, the Gurgaon-based startup aims to be the number one plug and play embedded lending infrastructure for tech platforms. The current process requires platforms to work with multiple stakeholders (e.g. multiple NBFCs, KYC platforms etc) and build complex systems (e.g. underwriting, LMS, LOS etc) leading to months of effort before a launch. Finverv’s plug and play solution enables them to do it in less than a week. Having founded a fintech product solving payments, credits and invoicing for SMEs, Siddharth has deep domain expertise in BFSI and has first-hand experience in dealing with this problem. Sangeet complements the team with a strong tech and product background having worked with multiple large consumer tech platforms such as Spinny, CarDekho and ServX.
Finverv’s full stack platform helps organizations integrate with multiple lenders, and provides a suite of lending tools like KYC, onboarding, risk management, LMS (Loan Management System), LOS (Loan origination system) and white labeled customer journeys via simple plug-and-play integrations. Commenting on the product, Sangeet Verma, CTO and Co-founder, Finverv, said, “While we intend to benefit organizations by opening new possibilities of credit to scale their business, we also aim to expand the credit portfolio of the lenders, thus making this a resourceful experience for all parties involved. Our systems are safe, secure, and cost-effective with a robust credit management framework designed exclusively to establish trust in all the entities.”
Siddharth Bhardwaj, CEO and Co-founder, Finverv, added, “Companies are increasingly realizing the massive potential and importance of embedded finance. As lending is set to be the next big opportunity in FinTech, true value can be unlocked by enabling financial institutions to reach out to more consumers and vice versa. Built for large, medium, and small enterprises, Finverv aims to bring all stakeholders on a single platform and give them total control of their account with real-time dashboards and analytics. We are focused on simplifying financial lending in the country and serving the larger cause of financial inclusion.”
What differentiates Finverv is their flexible and agile system. Providing the technological infrastructure to facilitate this lender-borrower equation, Finverv allows organizations to onboard their own lending partners while offering portfolio management for lenders to manage collaborations.
The investment from Antler India will help Finvervbuild and strengthen its functional teams and scale up partnerships.
Nitin Sharma, Partner at Antler India, added “As embedded lending becomes a major need for most companies as a way to monetize their existing customer base, we believe, a full stack SaaS solution like Finverv will be the way going forward. With Finverv, companies can integrate multiple lenders at the same time, avoiding concentration risk while making it easier for lenders to manage their partnerships. We are thrilled to back this team that is uniquely positioned, with a strong product, domain expertise and differentiated insights, to build this robust platform. By building a supply of credit, they are building a much needed solution for addressing low penetration of financing in the country.”
Global early-stage VC firm Antler is one of the fastest growing VC firms in the world and plans to deploy $100M to $150M in 100+ Indian startups over the next 3 years.
Antler is a global early-stage venture capital firm that invests in the defining technology companies of tomorrow. The firm has offices globally across most major entrepreneurial hubs, including in London, Berlin, Stockholm, New York, Singapore and Sydney.
Founded in Singapore in 2017, Antler is on a mission to fundamentally improve the world by enabling and investing in the world’s most exceptional people, by supporting the teams with deep business model validation and providing a global platform for scaling. To date, Antler has invested in over 530 companies globally.
Nitin Sharma and Rajiv Srivatsa are Partners at Antler India, and Co-founders for the Antler India Fund.