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Funding

Finsall raises Rs 15 Cr in bridge round

Insurance-first BNPL startup,Finsall raised Rs 15 crore in a bridge round led by Unicorn India Ventures and Seafund, with additional involvement from other institutional investors.

The startup will use the funds to set up an NBFC to scale its lending operations and tech enhancement to develop user-friendly interfaces for insurance companies, brokers, agents and lending partners (banks and NBFCs).

It also aims to use the capital to develop more strategic partnerships with insurers, intermediaries, and lenders to broaden service offerings and enhance distribution channels.

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Finsall Team (L-R Prabal Khanna Co-founder, COO &amp; Tim Mathews Co-founder, CEO)

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D2C Company Palette Brands raise nearly $2M in pre-Series A round

Palette Brands, a next-generation consumer goods company, raised close to $2 million in a pre-Series A round led by Rockstud Capital. Existing investors, including IPV and Dholakia Ventures and angels investors Stoffer Anko Norden and Apurva Salapuria, also participated.

The startup is building for an aspirational affluent consumer who seeks great product design and value. Its brands include Unbottle, a reusable and sustainable drinkware product, and Totem, which creates accessories exclusively for the growing Apple consumer base in India. It aims to launch a cookware brand Ember.

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Also Read

Startup news and updates: Daily roundup (June 11, 2024)

Other news

Bureau, M2P Fintech partner to enhance fraud prevention in digital transactions

Fraud and identity decisioning platform Bureau has partnered with M2P Fintech, a digital banking infrastructure provider to bolster fraud prevention measures in digital transactions by integrating the former’s device intelligence and behavioural biometrics capabilities with M2P Fintech’s fraud and risk management solution.

The partnership marks a significant step forward in the realm of digital security, offering customers enhanced protection against emerging fraud patterns. Banks and fintech companies can verify user and device trustworthiness before a financial transaction, proactively mitigating fraud risks and ensuring a secure and seamless user experience by leveraging Bureau and M2P Fintech’s combined solution.

Ranjan R Reddy, Founder and CEO of Bureau, said, “With evolving fraud patterns, there is a global shift in prevalent user authentication methods for enhanced security of digital transactions, primarily from OTP-based verification to ‘inherence-based’ verification. Joining forces with M2P Fintech, we have built a cutting-edge solution, which provides a pre-facto analysis of the user’s identity while ensuring that the transaction is initiated from a legitimate device.”

Mystifly rolls out multi-source air selling technology and vision

Mystifly, a traveltech leader, rolled out its Smart Selling Platform (SSP), an enterprise platform-as-a-service (PaaS) designed to simplify and revenue-optimize the sourcing, selling, and servicing of heterogeneous air content for any travel seller.

SSP is central to Mystifly’s vision to close the many gaps in today’s airline distribution infrastructure by delivering real-world technology solutions for travel sellers and airline partners. Costco Travel is the first customer to deploy SSP.

“SSP is the industry’s first cloud-based solution purpose-built for selling and servicing air at scale with a particular focus on enabling sellers to optimise their business and deliver the best possible travel experience for their users,” said Rajeev Kumar, Founder, CEO, and MD of Mystifly. 

VS Mani & Co. ropes in music composer Anirudh Ravichander as co-founder

VS Mani & Co., a south Indian filter coffee and snacks brand, has roped in music composer Anirudh Ravichander as its co-founder and brand ambassador.

Ravichander became a national sensation over a decade ago after he composed the viral hit song Why This Kolaveri Di. He is one of the most sought-after composers in the music industry, with multiple mega-hits across Tamil, Telugu and Hindi movies.

Established in 2020, VS Mani & Co. has gained widespread popularity for its easy filter coffee (decoction) and south Indian snacks, thanks to its authentic flavours and taste—and is listed as a top seller on Amazon, the company claims.

After three years of servicing customers through its website and marketplaces, it has entered over 1,000 retail stores across Bengaluru and Chennai in the last six months.

The company plans to increase penetration across many important towns in Tamil Nadu. With an exponential growth of 400% in the past year, VS Mani & Co. intends to continue expanding its product portfolio to become a household name in the south. This collaboration with Anirudh will strengthen the brand’s presence across regions and drive revenue growth.

(This copy will be updated with the latest news throughout the day.)