Fixerra, a start-up in the field of embedded finance, formerly known as Fixed Invest, has secured Rs 14 crore in a seed funding round. The investment comes from notable Angel investors and family offices, including industry leaders like Jaideep Hansraj, managing director of Kotak Securities, Shailesh Haribhakti, chairman of Shailesh Haribhakti and Associates, and Oisharya Das, CEO of Kotak Private.
Other participants in the funding round include the family office of Harish Shah, a seasoned industrialist and Managing Director of Signet Excipients Pvt Ltd, as well as angel investor Shivang Desai.
The start-up has announced a rebranding from its previous identity, Fixed Invest, a fixed deposit marketplace. With this transformation, the company aims to evolve into a comprehensive banking-as-a-service provider, assisting digital businesses in launching a variety of banking products.
On the funding, Shailesh Haribhakti, chairman of Shailesh Haribhakti and Associates, said, "We are excited to back Fixerra’s vision to bridge a gap between banks and fintechs that helps enable consumers to explore a broader range of superior banking services.”
Founder and CEO of Fixerra, Akshar Shah, outlined the company's strategic vision, saying, "We want to become a digital mall for banks. Over the next 3 years, we are going to focus on building infrastructure for marketplaces across multiple banking products."