FinBox raises $40 million in Series B to fuel expansion, product growth

FinBox, the Bengaluru-based fintech, has raised $40 million in a Series B funding round led by WestBridge, with participation from Aditya Birla Ventures and A91 Partners. The company, which already powers credit infrastructure for more than 130 lenders, plans to expand its product portfolio and accelerate global expansion.

Speaking to CNBC-TV18, Rajat Deshpande, Co-Founder & CEO of FinBox, said the fundraise will be directed towards three priorities. “First, to expand our product portfolio. This is a large value chain and we are a vertical SaaS player. Second, we are expanding into multiple geographies, including Southeast Asia, the Middle East, and developed markets as well. And third, we are looking at some inorganic activity in areas where we find high-quality assets that can add to our product portfolio,” he said.

FinBox has built an extensive suite of solutions for banks, NBFCs, and fintechs, ranging from embedded finance APIs and bank statement analysers to Sentinel AI, its decisioning engine, and a complete loan origination system stack. “Basically, there are multiple gaps we are addressing. Lenders are always looking to build omni-channel experiences for credit, whether digital sourcing or offline. Another big need is digital transformation, where they are trying to unify a lot of legacy software bought in the past. We solve all of this in one shot,” Deshpande explained.

The company has also seen growing traction in digital lending products, particularly through innovation in merchant credit. Platforms such as BharatPe, PhonePe, and Paytm use FinBox’s infrastructure to embed equal daily instalment loans into merchant apps. This segment alone now facilitates lending of ₹400–500 crore per month.

Deshpande noted that revenue is nearing the $16 million mark and highlighted that FinBox solutions are helping lenders manage non-performing assets (NPAs) more effectively. Its underwriting and collections management tools, including CollectDesk, provide early warning signals to lenders, enabling them to refine credit policies and improve portfolio performance.

On international ambitions, Deshpande said FinBox is already active in Vietnam, the Philippines, and Indonesia, and will double down in these markets before expanding further. “We will start working in the Middle East markets, and then potentially in the US in three or four quarters,” he added.

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