April 5: FINAYO, the industry-leading platform which aims to streamline the EV financing space leveraging cutting-edge technology has bagged a pre-seed round for an undisclosed amount from India Accelerator under its Finseed program.
India Accelerator nurtures revolutionary startups with strategic mentorship and connections and offers a growth-oriented ecosystem that caters to end to end requirements of young companies.
The latest Finseed program by India Accelerator is tailored to empower startups in the Fintech segment with dedicated mentorship, technology and financial support.
”FINAYO has developed a tech solution that will bridge the gap between retailers and financial institutions by drastically reducing the time taken for approval of the loan. The facility to provide loan approval 24×7 will be a game-changer in the industry,” said Munish Bhatia, Co-founder India Accelerator.
”The latest investment in Finayo by the India Accelerator Finseed program is one step forward towards enabling the fintech startup ecosystem in offering disruptive solutions for different industry verticals,” said Mona Singh, Co-founder India Accelerator.
Sharing his delight for the pre-seed funding round, Mr Brajendra Singh Tomar, Founder and CEO of FINAYO, said,” We are honoured to be a part of the India Accelerator’s Finseed program. This will not only enable us to make our platform more robust but will also facilitate a comprehensive understanding of the EV lending space.
”FINAYO aims to bring a range of OEMs and NBFCs on a single platform to enable potential EV buyers in accessing compelling loans for their preferred EV models seamlessly. Our trendsetting Fi-Men solution which enables a consumer to avail of a host of loan offers with just the scan of a QR code is a game-changer in this regard,” added Tomar.
FINAYO leverages the cutting-edge Asset Business Rule Engine and Lender Business Rule Engine to enable OEMs and financial institutions in assessing the spending pattern of a consumer in real-time for a customised loan offer.
About India Accelerator
India Accelerator furnishes early age startups with knowledge, technology and connections to help them move beyond the early stage of growth. The program helps in distinguishing business opportunities for startups and builds a substantial foundation to accomplish those opportunities.