Digital lending fintech startup Stashfin raises USD 5 million for pre-Series A
Founders: Tushar Aggarwal
Founded in: 2016
Financing status: USD 5 million pre-Series A round in 2017
Individual investors such as managing partners from executive search firm Positive Moves, Vibhav Dhawan and Praveen Malhotra; Avendus Capital founder Ranu Vora; Trafigura CEO Raoul Bajaj; and senior executives from global investment firm KKR also participated in this round.
Stashfin was founded in 2016 by Tushar Aggarwal who previously worked with Goldman Sachs, Lehman Brothers, private equity firm General Atlantic and Everstone Capital in New York. The founder also holds an MBA from The Wharton School and is a chartered financial analyst. Stashfin is the parent company of digital lending platform StashEasy.
Delhi-based Stashfin is a machine learning driven digital lending startup that provides consumers with a credit facility. It offers loans ranging from Rs 10,000 (USD 154.89) to Rs 200,000 (USD 3,097.73). The repayment period starts at two months to a maximum of 18 months. It charges annual interest rates ranging from 11.99 to 59.99 percent. The loans are paid by equal monthly installments (EMIs) through electronic payment.
Data analytics startup Quantta Analytics raises undisclosed amount for pre-SeriesA
Founders: Ritesh Bawri, Malvika Bawari
Founded in: 2012
Financing status: undisclosed amount for pre-Series A in 2017
Quantta Analytics was founded in 2012 by Ritesh Bawri and Malvika Bawari. The team consists of mathematicians, PhD holders, statisticians and engineers from MIT, Harvard, University of Michigan, University of Maryland, IIT and ISI.
The Mumbai-based startup uses big data and artificial intelligence to understand and predict human behavior. The startup uses cutting edge statistical analysis and maps to analyze, interpret and visualize its clients’ data into actionable suggestions. It can help choose the right location that best serves the client’s target customers. Its solutions help the clients to grow their business with predictive and location analytics.
Quantta Analytics’ solutions have been used by diverse verticals such as finance, healthcare, foods, retail and intelligence agencies. Its major clients include State Bank of India, Kotak, Fullerton, Capital First and Starbucks among others.
The startup will use the newly raised investment to enhance its tech stack, strengthen the core technology team, and expand its presence across various cities in India. Also, the startup is in the process of setting up Quantta Labs in Silicon Valley.
(Top photo from Flickr)