Embedded Finance startup Fixerra has secured Rs 14 crore in funding from investors, including Jaideep Hansraj, managing director of Kotak Securities, Shailesh Haribhakti, chairman of Shailesh Haribhakti & Associates, Oisharya Das, CEO of Kotak Private, and Shivang Desai.
The family office of Harish Shah, managing director of Signet Excipients, also participated in the funding round.
Fixerra revealed a rebranding from Fixed Invest, a fixed deposits marketplace, and is now positioned as a comprehensive banking-as-a-service provider. The company focuses on assisting digital businesses in launching their banking products.
“We are excited to back Fixerra’s vision to bridge a gap between banks and fintechs that helps enable consumers to explore a broader range of superior banking services,” Haribhakti said.
Fixerra is expanding its banking partnerships and introducing new features to enhance its banking-as-a-service suite. The company expects to help over 200 digital businesses within the next three years.
“We want to become a digital mall for banks. Over the next three years, we are going to focus on building infrastructure for marketplaces across multiple banking products,” said Fixerra founder and CEO Akshar Shah.
As a member of the five-member portfolio advisory team at Kotak Investment Advisors, Shah played a crucial role in advising investment committees of major family offices in India. He guided assets exceeding Rs 20,000 crore as the lead advisor. Subsequently, he joined the leadership team of Kotak’s in-house fintech app, Kotak Cherry.