Bengaluru-based neo banking startup Finin has raised an undisclosed amount in Pre-Series A funding round led by early-stage venture capital firm Unicorn India to ramp up its marketing, customer acquisitions and hiring process. The company will also be using this capital to build a partner network. PointOne Capital and Astir Ventures have also participated in the round.
Founded in 2019 by Suman Gandham and Sudheer Maram, Finin is a consumer-focused AI-powered neobank which aims to make banking simpler for students, millennials, white-collar jobholders among others. Gandham, in a conversation with Inc42, noted that Finin will help its customers not only manage their money better but also help them become financially independent and economically stable.
Unlike traditional banking institutions, Finin will offer hyper-personalised banking solutions, Gandham claimed. Explaining the shortcomings of the current banking system, he said people with the same age group and pay income are considered under similar criteria without taking their family size or spending habits into account. He added that AI-powered neobank will ensure that customers get services that can give them the maximum benefits in correspondence to their needs.
Full article: Inc42