India's coolest start-ups: How FinBox is looking to dominate the credit infra space

FinBox

(credit infra platform)

Key People: Rajat Deshpande, co-founder and CEO

Key Investors: Key investors A91 Partners, Aditya Birla Ventures, and Flipkart Ventures

Funding: Raised $15 million in Series A funding in 2022

Rajat Deshpande always wanted to be an entrepreneur. After stints with names like Citigroup and GoPigeon Logistics, among others, the IIT Mumbai alumnus took the plunge in 2015, when he founded FinBox with Anant Deshpande, Srijan Nagar, and Nikhil Bhawsinka. Originally a personal finance app, FinBox—with revenue of Rs 36.2 crore and a loss of Rs 20.7 crore in FY23, per Tracxn—pivoted to enabling firms to offer digital credit products. Deshpande, 38, says there are two main sides of its business. “The first is credit intelligence. The second is infrastructure, which consists of the loan origination system, embedded finance, etc.” The plan is to dominate the credit infra space, he adds.