Finarkein Analytics, a Pune-based data analytics firm, has secured $4.75 million in a pre-series A funding round led by Nexus Venture Partners. The round also saw participation from existing investors IIFL Fintech Fund and Eximius Ventures, along with angel investors such as Nitin Gupta of Uni and Chirag Jain of Ashika Group.
The newly acquired funds will be directed toward product development and the company’s expansion efforts. Finarkein, founded in 2019, is a B2B software startup specializing in data and workflow orchestration. The firm enables enterprises to co-create data products on India’s digital public infrastructure (DPI), including ecosystems like Account Aggregator (AA), Open Network for Digital Commerce (ONDC) Financial Services, and Open Credit Enablement Network (OCEN).
The company was established in response to the Reserve Bank of India’s master circular on the account aggregator framework, which aims to democratize financial data access for regulated entities. Over the past 18 months, Finarkein’s platform has become a key enabler for more than 50 enterprises to publish and consume data on DPIs. To date, over 40 million Indians have used its embedded data products to securely share data through licensed NBFC-AAs.
The funding round comes on the heels of a previous seed round led by IIFL Fintech Fund, where Finarkein raised an undisclosed amount. The company’s growth has been marked by its significant role in accelerating the adoption of DPIs in India, positioning itself as a crucial player in this digital transformation.
Anand Datta, a partner at Nexus Venture Partners, highlighted Finarkein’s impressive progress since winning the Account Aggregator (AA) hackathon in 2020. The firm has successfully scaled its operations and established a new category in the data analytics space.