In a significant development for the Indian fintech landscape, Fixerra Pvt Ltd, formerly known as Fixed Invest, has successfully raised Rs 14 crore ($1.68 million) in a seed funding round. The investment comes from a prestigious group of angel investors and family offices, showcasing the confidence and support garnered by the startup. This funding round is expected to fuel the company’s strategic expansion as it rebrands itself into a comprehensive banking service provider.
Rebranding and Strategic Shift:
The rebranding of Fixerra marks a pivotal moment in the company’s journey. Fixerra is now positioned to offer a broader spectrum of financial services, moving beyond its previous focus. The company aims to emerge as a key player in the banking sector, providing support to digital businesses seeking to launch banking products swiftly and in compliance with regulatory standards.
Investors and Backers:
Fixerra’s seed funding round has attracted prominent investors, including Jaideep Hansraj, managing director of Kotak Securities, Shailesh Haribhakti, chairman of Shailesh Haribhakti & Associates, and Oisharya Das, CEO of Kotak Private. Additionally, investors from the family office of Harish Shah, an industrialist and managing director of Signet Excipients Pvt Ltd, have joined the round, along with angel investor Shivang Desai.
Fixerra’s Core Offering:
Fixerra positions itself as an integrated finance firm dedicated to aiding digital enterprises in rapidly and compliantly creating financial solutions. The startup has distinguished itself by developing an easy-to-integrate fixed deposit gateway through strategic agreements with seven banks and non-banking financial companies (NBFCs). This innovative approach allows Fixerra to streamline the fixed deposit lifecycle, addressing everything from initial discovery to post-investment services.
API-Enabled Banking Infrastructure:
At the heart of Fixerra’s operations is its platform, which integrates API-enabled banking infrastructure with various deposit-taking financial institutions. This unique integration allows for a seamless and efficient process, ensuring that digital businesses can navigate the complexities of the financial landscape with ease. The platform’s capabilities cover the entire fixed deposit lifecycle, offering a comprehensive solution for businesses seeking a quick and compliant entry into the financial market.
Ongoing Developments:
As Fixerra celebrates this successful funding round, the company is actively extending its financial connections and refining its solution with new features. This commitment to continuous improvement aligns with Fixerra’s mission to stay at the forefront of financial technology, providing digital businesses with cutting-edge tools and services.
Fixerra Pvt Ltd’s seed funding success and rebranding represent a significant stride in the evolution of the Indian fintech sector. With a strong lineup of investors and a strategic vision to become a comprehensive banking service provider, Fixerra is well-positioned to play a pivotal role in shaping the future of digital finance in India. As the company continues to enhance its offerings and expand its reach, its journey will undoubtedly be closely watched by industry experts and stakeholders alike.