Fixerra, the Mumbai-based startup formerly known as Fixed Invest, has successfully raised INR 14 crore in a recent seed funding round. The funding, led by distinguished angel investors and family offices, propels Fixerra into a new phase as it rebrands and expands its focus to become a comprehensive banking-as-a-service provider.
Rebranding for a Broader Horizon
Fixerra, originally recognized as a marketplace for Fixed Deposits, has now rebranded itself to better align with its expanded vision. The company’s transformation aims to position Fixerra as a pivotal player in the embedded finance sector, catering to the rising demand for agile and compliant banking solutions among digital businesses.
Backing from Industry Stalwarts
The seed funding round saw participation from marquee investors, including Jaideep Hansraj of Kotak Securities, Shailesh Haribhakti of Shailesh Haribhakti & Associates, Oisharya Das, CEO of Kotak Private, and Harish Shah’s family office of Signet Excipients Pvt Ltd. Angel investor Shivang Desai also joined the list of backers, emphasizing the strategic importance of Fixerra’s venture in the embedded finance space.
From Fixed Deposits to Comprehensive Banking-as-a-Service
Fixerra, founded by Akshar Shah, has been instrumental in facilitating digital businesses’ seamless entry into the financial landscape. With an easily integrable fixed deposit gateway and partnerships with seven banks and NBFCs, Fixerra has now broadened its scope. The company’s new identity positions it as a comprehensive banking-as-a-service provider, offering digital businesses the ability to launch a diverse array of banking products quickly and in compliance with regulations.
Accelerating Growth and Future Roadmap
With the freshly secured INR 14 crore, Fixerra is set to accelerate its growth trajectory. The funds will be strategically directed towards expanding its network of banking partnerships and enhancing its platform’s features. The company envisions powering over 200 digital businesses with its banking-as-a-service suite in the next three years, contributing to the evolution of the embedded finance ecosystem.
Navigating the Embedded Finance Landscape
The embedded finance space has witnessed remarkable growth as businesses increasingly seek seamless financial solutions tailored to the digital era. Fixerra’s pivot to banking-as-a-service aligns perfectly with industry trends, offering a solution for businesses in need of agile and compliant financial services to stay competitive.
Fixerra’s successful seed funding round and rebranding signify a pivotal moment in the company’s journey. As it strives to become a leader in comprehensive banking-as-a-service, Fixerra stands at the forefront of innovation in the embedded finance sector. The support from prominent investors and industry experts highlights the confidence in Fixerra’s vision and its potential to redefine the landscape of digital banking services.