Bengaluru-based B2B fintech SaaS startup FinBox has secured $40 million (approx. ₹350 crore) in its Series B round, led by WestBridge Capital with participation from existing investors A91 Partners and Aditya Birla Ventures. Of the total, $35 million came as primary capital to accelerate product launches, tech enhancements, and international expansion, while $5 million was raised via secondary share sales by early angel investors. The company will channel these funds into strengthening its AI-native lending platforms (Sentinel BRE, Prism), risk APIs (BankConnect, DeviceConnect, KYC), developing agentic AI workflows, and rolling out a sophisticated fraud intelligence suite.
Financials and Funding History
Founded in 2017, FinBox has steadily grown its B2B lending and risk infrastructure offerings, serving clients like HDFC Bank, Kotak Mahindra Bank, Tata Capital, and Aditya Birla Capital. In the last financial year (FY24), FinBox’s revenue jumped 47% to ₹53.24 crore, up from ₹36.20 crore the year before. However, its net loss widened to ₹33.6 crore (from ₹23.09 crore in FY23), as expenses—mostly employee benefits and ongoing platform scaling—grew to ₹86.85 crore.
Prior to this round, FinBox had raised $15 million in a 2022 Series A led by A91 Partners, Aditya Birla Ventures, and Flipkart Ventures, and smaller rounds in earlier years, totaling well over ₹125 crore in cumulative funding before this year.
Read this: Ahead of IPO, InCred Money Secures Rs 250 Cr Funding at a $200 Mn Valuation
Competitive Landscape: Leading Fintech SaaS Startups
India’s fintech SaaS sector is thriving with major players alongside FinBox:
- Perfios: India’s largest B2B fintech SaaS firm, empowering over 800 financial institutions with real-time credit decisioning, analytics, and automation. Known for its robust data aggregation and multi-bureau analytics, Perfios is a market leader in the B2B credit infrastructure space.
- Razorpay (RazorpayX): Expanded from payment gateways to include RazorpayX for digital current accounts, credit, payroll automation, and a powerful SME lending stack. Razorpay is valued at $7.5 billion and is among India’s biggest fintech unicorns.
- Lentra: Offers cloud-based digital lending SaaS for banks and NBFCs, leveraging AI for fully automated, real-time credit, disbursal, and monitoring. It has enabled several major Indian lenders to digitize and scale retail loan delivery.
- Rupifi: Powers embedded credit and BNPL for B2B marketplaces and SMEs, emerging as a preferred provider of working capital for India’s SMB sector, rapidly adopted by digital B2B platforms.
- M2P Fintech & Signzy: Specialize in expanding digital onboarding, KYC, and risk management APIs for banks and fintechs, enabling swift compliance and low-friction customer journeys.
These firms, along with new-age players like Zeta, Cashfree Payments, and Decentro, are credited with propelling India’s fintech SaaS market—projected to hit $12.6 billion by year-end—by equipping financial institutions with agile, AI-driven tools for digital credit, fraud management, onboarding, and embedded finance.
FinBox’s latest raise and expansion plans underscore both the promise and competition in India’s fast-digitizing B2B financial infrastructure market, where product innovation, robust compliance, and AI-powered risk management are now the keys to leadership
