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Fintech startup Finaureus Technologies bags pre-Series A funding
Photo Credit: VCCircle

Finaureus Technologies Pvt. Ltd said it has raised funding from proprietary investment firm Pinetree Capital.

The funding is part of the company's pre-Series A round, Finareus said in a statement without disclosing the financial details of the transaction.

Pinetree Capital is owned by Nanda S, a financial services professional turned entrepreneur.

Meanwhile, Finaureus also launched an online investment advisory platform -- AlphaNiti -- under a joint venture with US-based Validea. AlphaNiti will help investors invest in both the US and Indian markets.

Pune-based Finaureus, which was launched in 2017, is engaged in providing investment management solutions. Through its AlhpaNiti platform, it also plans to launch proprietary investment strategies for all prominent asset classes, with an initial focus on equity and mutual funds.

The startup was founded by Arindam Ghosh, former CEO of global asset management firm Mirae Asset and U R Bhat, who was formerly with JP Morgan and led Dalton group UK's entry into India, according to the company's website.

Deals in the fintech segment

The fintech segment has seen heavy investor activity for startups across all stages. Startups in verticals such as wealth management and neo-banking have pocketed large cheques. Companies in the space are seeking to apply new technologies to traditional financial products and bring more people into formal financial structures.

Just this month, at least five other deals in the fintech space were made.

Earlier this week, payments infrastructure platform YAP attracted Series A cheque led by Singapore-based Beenext.

Last week, Setu, a fintech application programming interface (API) infrastructure startup, raised $15 million as part of its Series A funding round led by Falcon Edge and Lightspeed Venture Partners US.

Earlier this month, ICICI Bank-backed fintech startup Fingpay raised Series A cash from IvyCap Ventures and fintech startup Recko raises Series A funding led by Vertex Ventures SEA.

Besides, Juspay Technologies Pvt. Ltd, which operates a payments technology firm, raised $21.6 million in its Series B funding round in April.

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