FinBox, a B2B credit infrastructure fintech, has secured $40 million (approximately ₹350 crore) in a Series B funding round led by WestBridge Capital, according to CEO and co-founder Rajat Deshpande.
The company plans to use the capital to roll out new products, enhance its AI-powered platforms for risk assessment, fraud detection, and underwriting, and expand further into fraud prevention. Additionally, FinBox intends to enter the secured lending space, including loan against property, housing finance, and other segments.
“FinBox has established itself as a product-first platform that addresses critical gaps in India’s credit ecosystem. Their modular architecture, data intelligence, and embedded applications create a strong foundation for scalable digital lending. At WestBridge Capital, we strongly believe FinBox is well positioned towards becoming an integral layer of India’s evolving digital credit infrastructure, and we are excited to partner with them in their next phase of growth” said Deepak Ramineedi, Partner, WestBridge Capital.
The round also saw participation from existing investors such A91 Partners and Aditya Birla Ventures.
“We are excited to up our investment in FinBox. They’ve prudently been building the rails for digital lending. This fundraise will help further expand their product suite for banks and NBFCs,” Kaushik Anand, Partner, A91 partners, said.
FinBox raised $35 million as primary capital directly into the company, while secondary share sales contributed the remaining $5 million, enabling early angel investors to exit and new backers to come in.
“With the fresh capital, we will accelerate our mission to reimagine digital lending through our AI platform to supercharge the productivity of banks and NBFCs while ensuring borrowers get faster, fairer access to credit,” Deshpande said in the interview.
“We’ll also use the money to scale operations in Southeast Asia, a market we entered recently,” he said.
Deshpande also said FinBox will actively look at acquiring companies that are building in adjacent sectors.
“If a company is building in a space we’ve been eyeing, we’ll consider inorganic growth opportunities. These will be companies that are valued at around $20-30 million. We can consider even larger ones, we will not shy away from raising more capital to fund these plans,” he said.
FinBox will choose to be aggressive and chase growth, instead of prioritising profits at this point, Deshpande added.
Since its launch in 2017, FinBox’s lending stack has facilitated loan applications worth more than $9 billion (over ₹75,000 crore). Its flagship product, FinBox BankConnect, has enabled lenders to boost approval rates by 35% while cutting fraud cases by 54%.
Before this latest funding round, the company had secured a total of $16 million, according to private market intelligence platform Tracxn.
