ProFinTech Technologies, a fintech startup incubated at T-Hub in Hyderabad, has completed its Seed Capital round, securing $1.4 million in primary capital. The funding round was led by prominent high-net-worth individuals (HNIs) and family offices from India and the USA, including the family office of K.I. Varaprasad Reddy, Rahul Gedupudi, Sreeman Chalasani and Srinivas Kalagara.
This fresh capital will be used to drive ProFinTech’s expansion into South and Western India. The company also plans to strengthen partnerships with forward-thinking Banks and NBFCs, looking to scale their Supply Chain and Trade Financing operations.
To support this growth, ProFinTech anticipates rapid expansion in its Sales, Marketing, and Operations teams. Additionally, the company is set to introduce new product features and enhancements designed to further benefit MSMEs, helping them scale their businesses more effectively with ProFinTech’s support.
ProFinTech has already established strategic partnerships with several leading Banks and NBFCs in India. The company will focus on collaborating with finance partners who align with ProFinTech’s data-centered financing model and its unique transaction-led financing framework.
ProFinTech’s CEO and Founder, Ravi Tanniru, said, “We are excited and thankful for the confidence our investors have shown in our vision to transform financing in India. This funding will accelerate our growth and allow us to introduce highly innovative solutions to the market. Our data-driven approach will empower countless MSMEs to drive business growth and generate more employment opportunities.”
Investor Rahul Gedupudi, Founder of Kensium Solutions, said, “We believe in ProFinTech’s mission and are proud to support their efforts to revolutionise data-backed trade financing for MSMEs. Their technology-driven approach is exactly what the financial services industry needs at this moment to unlock new opportunities and fuel rapid economic growth in our country.”
Founded in November 2022 by Ravi Tanniru and Sandeep Kunkunuru, ProFinTech is dedicated to simplifying and democratising financial access for MSMEs in India. By harnessing advanced AI and ML technologies, the company offers tailored financing solutions that address the specific challenges faced by small businesses. ProFinTech has introduced several first-to-market innovations, including automated financing recommendations, transaction-level credit readiness scores, zero processing fees, and live-transaction funding in under one second.
Recognised as one of India’s Top 10 Fintech Startups of the Year, ProFinTech is incubated at T-Hub, Hyderabad, and operates from T-Hub’s Machine Learning and Artificial Technology Hub (MATH) Centre of Excellence in Hyderabad.
