In a significant development, Mumbai-based Embedded Finance startup Fixerra, formerly Fixed Invest, has successfully raised Rs 14 crore in a seed funding round. The funding was led by marquee angel investors and family offices, including Jaideep Hansraj of Kotak Securities, Shailesh Haribhakti of Shailesh Haribhakti & Associates, Oisharya Das, CEO of Kotak Private, Harish Shah’s family office of Signet Excipients Pvt Ltd, and angel investor Shivang Desai.
The infusion of funds is pivotal for Fixerra as it undergoes a strategic rebranding from its original identity as Fixed Invest, a marketplace for Fixed Deposits. With this transformation, Fixerra is poised to evolve into a comprehensive banking-as-a-service provider, signalling its commitment to empowering digital businesses with a broader array of financial products.
Founded by Akshar Shah, Fixerra specializes in helping digital businesses swiftly and compliantly launch banking products. The startup has already established itself as a key player with its easy-to-integrate fixed deposit gateway, featuring partnerships with seven prominent banks and NBFCs.
The recent seed funding will support Fixerra’s ambitious growth plans. The company is actively expanding its banking partnerships network while enhancing its product with additional features to provide a seamless banking experience for its users.
Fixerra aims to leverage its new financial backing to power over 200 digital businesses with its comprehensive banking-as-a-service suite over the next three years. This strategic move reflects the company’s commitment to innovation and positions Fixerra as a crucial player in the rapidly evolving landscape of embedded finance.
The success of this seed funding round and the subsequent rebranding signal a new chapter for Fixerra, marked by expanded horizons, innovative financial solutions, and a determined focus on becoming a key player in the banking-as-a-service sector. As Fixerra continues to forge ahead, the industry will watch closely how the startup transforms the digital banking landscape in the coming years.
