$11 million in Series A funding is raised by FinAGG Technologies.

The $11M Series A investment round for Small Industries Development Bank of India (SIDBI), Prime Venture Partners, BlueOrchard, and Tata Capital will help fintech firm FinAGG Technologies expand its financing for MSMEs.

With the recent funds, the company plans to increase its offline and online presence, reach, and product innovation investments. The collaboration with BlueOrchard, Tata Capital, and SIDBI will drive the uptake of climate insurance and scale the business operations to new heights.

FinAGG's Product and Engineering division is working on blockchain-related underwriting initiatives to enhance the underwriting process for borrowers. The company also plans strategic investments in SME supply chain companies that share its objectives.

Since its founding, FinAGG has assisted over 85,000 borrowers in 100 tier-one and tier-two cities in India. The company's Quick Cash Flow platform recently completed the Reserve Bank of India's Sandbox for MSME Lending in November 2023.