Finarkein: Fin-tech Startup Secures $1.5 Million Funding

Finarkein has successfully acquired $1.5 million in an extended pre-Series A funding round, which consists of both primary and secondary investments. This funding round was led by DSP Group Family Office and included contributions from existing investors. Based in Pune, the company previously secured $5.78 million during a seed funding round financed by Nexus Venture Partners. The newly raised funds will be allocated to advancements in data privacy, security, and compliance, further enhancing its data products to strengthen India’s financial markets, as stated by Finarkein in an official announcement.

Co-founded in 2019 by Nikhil Kurhe, Dheeraj Kumar, Aakash Narendra Agrawal, and Pradip Machindra Waghmare, Finarkein is a prominent financial technology firm that focuses on open finance, data intelligence, and AI infrastructure. The company empowers more than 100 BFSI institutions to utilise frameworks such as Account Aggregator, OCEN, and ONDCFS. Their commitment lies in offering effective and scalable solutions that meet the dynamic demands of the financial sector.

Nikhil Kurhe, the CEO of Finarkein, mentioned that their platform continues to lead in the Account Aggregator sector, providing an exceptional user experience combined with privacy-preserving technologies, which are essential in the data industry. Finarkein excels in open finance, data intelligence, and AI infrastructure, aiding financial organisations and various businesses in leveraging emerging Digital Public Infrastructures (DPIs), notably the Account Aggregator (AA) ecosystem.

The company’s platform, Flux, enables businesses to harness data from multiple sources. Noteworthy features include OpenDataOS, the Flux platform, and Smart Collect.