Finanjo Secures Rs 1.5 Crore in Funding for Personal Finance Development

Finanjo has secured Rs 1.5 crore in a pre-seed funding round, supported entirely by the early-stage venture capital firm AJVC, which is led by Aviral Bhatnagar. This investment will facilitate the development of Finanjo’s offerings, focusing on enhancing its AI assistant, Jo, improving decision intelligence, and expanding features tailored to goal-based and credit optimisation.

Strategic Use of Funding

The acquired funds are intended for several strategic initiatives. These include augmenting the Account Aggregator infrastructure, recruiting talent across product, engineering, and content divisions, scaling user acquisition through collaborative partnerships, and enhancing regulatory compliance for future financial product integrations.

About the Founders

Founded by Prithviraj Singh Chauhan and Pankaj Singh Chauhan, Finanjo is a behaviour-centric personal finance platform aimed specifically at young users in India. The founders are also known for their role in creating Backstage with Millionaires, a popular YouTube channel that explores Indian startups and entrepreneurship.

Innovative Financial Solutions

Utilising India’s Account Aggregator framework and artificial intelligence, Finanjo provides users with a consolidated, real-time overview of their financial standing, encompassing savings, spending, investments, and liabilities. Its platform offers data-driven financial recommendations, making it a valuable tool for users.

User Engagement and Early Revenue

Since its beta launch, Finanjo has successfully onboarded over 5,000 users within just a few weeks, maintaining approximately 500 daily active users. The platform boasts more than Rs 25 crore in connected savings, generating early revenues through commissions from fixed deposit and mutual fund referrals.

AJVC’s Investment Focus

Finanjo represents the latest investment by AJVC, led by Aviral Bhatnagar, which has demonstrated a commitment to supporting early-stage startups. The fund’s portfolio includes notable companies such as Mindcase, Care Dale, HandyPanda, Multibagg AI, Nuyug, Mithila Foods, Jaagruk Bharat, TruFides AI, Chop Finance, Gaadi Mech, and Iztri.