Dexif, a fintech startup specializing in fixed-income investment products, has successfully raised $4 million in seed funding from RTP Global, an early-stage venture capital firm. The funding is set to fuel Dexif’s technology platform, expand its business operations, and strengthen its talent pool, positioning the company to better meet the growing market demand.
Founded in November 2022 by Deepank Bhandari and Tushar Sharma, Dexif operates from the National Capital Region with a significant presence in Mumbai. The startup has been working in stealth mode, focusing on providing innovative fixed-income products with precise risk-reward and duration characteristics that are investor-friendly. Dexif’s proprietary financial engineering technology facilitates investment in securities such as non-convertible debentures, pass-through certificates, direct assignments, and term loans.
CEO Deepank Bhandari highlighted the strategic importance of the funding, noting, “This investment reinforces our commitment to unlocking the full potential of India’s fixed-income markets. It will fuel our pursuit to innovate further and scale our offerings, ensuring that the power of fixed-income investments is within easy reach of every investor.” Bhandari, who previously served as Vice President of the supply chain at Blinkit, co-founded Dexif alongside Tushar Sharma, with Chartered Accountant Pallavi Bajaj joining as a co-founder in October 2023.
Dexif’s platform addresses significant challenges in the fixed-income market, such as price discovery, accessibility, and transparency. By leveraging technology, Dexif aims to provide valuable solutions to these issues, facilitating a more attractive and functional market for a broader range of investors. Nishit Garg, a partner at RTP Global’s Asia investment team, emphasized the potential impact of Dexif’s technology-driven ecosystem on the market.
The startup has reported a Gross Transaction Volume (GTV) of approximately Rs 300 crores per month. Dexif aims to bridge the gap between companies and financial institutions seeking capital and a diverse spectrum of investors, from institutions to individuals. The platform focuses on investment-grade companies and listed securities, ensuring a low-risk environment for its transactions.
India’s bond market, valued at around $2.2 trillion, presents significant growth potential compared to other major economies. Dexif’s strategic initiatives are aligned with this potential, aiming to expand the market substantially by 2030. With the fresh capital infusion, Dexif is poised to enhance its technology stack, expand its team, and scale its business operations further.