About FinBit
FinBit is a Financial Services company based in Bengaluru (India) founded in 2017 by Prashant Paliwal, and was acquired by Yodlee in February 2020. Financial data aggregation and analysis APIs are provided to institutions. The company has 1 employees. Its chief executive, as recorded, is Prashant Paliwal. Its Indian entity Finbonacci Softsys Private Limited reported revenue of ₹7.74 Cr. Its focus areas include FinTech, Banking Tech, Open Banking and Aggregation APIs.
Company details
FinBit provides APIs to financial institutions that allows them to analyze data and generate reports. The company offers bank statement and transaction analysis platform named Fin360 that supports India bank statements in PDF format. Offers an automated data aggregation API named Agg360, that helps the users to connect to the banks. Also Provides a mobile SDK named Mob360, that analyses SMS data, call data and location data for credit use cases and an email API named Email360, that can filter email data for the customers to extract bank statements and generate credit reports.
- Headquarters Bengaluru, India
- Employees 1
- Founders Prashant Paliwal
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website finbit.io
- Social LinkedIn X
- Acquired by Yodlee (Feb 2020)
- Legal Name Finbonacci Softsys Private Limited
- Date of Incorporation 26 Dec, 2018
- Jurisdiction Bangalore, Karnataka, India
Associated legal entities of FinBit
FinBit is associated with 2 registered companies on The Company Check; the primary company is Finbonacci Softsys Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2023) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Finbonacci Softsys Private Limited CIN U72900KA2018PTC119812 | Active | 26 Dec 2018 | Bangalore, Karnataka | ₹7.7 Cr | 1 | 2 | View details |
| Yodlee Infotech Private Limited CIN U72200KA2000PTC027511 | Active | 25 Jul 2000 | Bangalore, Karnataka | ₹9.0 Cr | 1 | 2 | View details |
Investors in FinBit
FinBit has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Yodlee.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Cloud-based data aggregation and analytics for financial institutions are offered. | 1999 | yodlee.com | Redwood City, United States |
Investor details for FinBit
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Board of directors of Finbonacci Softsys Private Limited (FinBit)
Finbonacci Softsys Private Limited is the primary company behind FinBit. The boards of the 2 registered companies of FinBit currently have 2 directors; the longest-serving is Ravindra Thadimarri, appointed in 2025. 23 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ravindra Thadimarri DIN 01213505 | Additional Director | 26 Aug 2025 | 1 yr 2 mo | Yodlee Infotech Private Limited, Finbonacci Softsys Private Limited |
| Muthukrishna Rajakumar Sripriya DIN 07784855 | Additional Director | 26 Aug 2025 | 1 yr 2 mo | Yodlee Infotech Private Limited, Finbonacci Softsys Private Limited |
People of FinBit
1 people are tracked at FinBit (1 in leadership); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
| Founder & CEO | Leadership |
Complete people profiles for FinBit
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Financials of FinBit
Figures of Finbonacci Softsys Private Limited, the primary company behind FinBit, for FY 2023. Revenue was ₹7.74 Cr (-17% year on year). Net profit was ₹3.14 Cr (41% margin). EBITDA was ₹4.26 Cr (55% margin). Revenue has grown at a compounded annual rate of +49% over three years.
- ₹7.74 CrRevenue · FY 2023 · -17% YoY
- ₹3.14 CrNet profit · 41% margin
- ₹4.26 CrEBITDA · 55% margin
- ₹16.1 LakhPaid-up capital
- 1Employees (provident fund records)
- +49%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Finbonacci Softsys Private Limited are on its company page.
Detailed financial statements for FinBit
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Timeline of FinBit
2 dated milestones of FinBit across 3 years, from founding to its latest funding, stage changes and deals.
- Founded FinBit is founded.
- Exit Acquired by Yodlee.
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Related news about Finbit
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Frequently Asked Questions about FinBit
FinBit was founded in 2017.
FinBit is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Prashant Paliwal is the CEO of FinBit, as recorded in our data. They have also founded this company.
FinBit has 1 employees.
The primary company behind FinBit, Finbonacci Softsys Private Limited, reported revenue of ₹7.74 Cr for FY 2023, down 17% year on year.
FinBit provides APIs to financial institutions that allows them to analyze data and generate reports. The company offers bank statement and transaction analysis platform named Fin360 that supports India bank statements in PDF format. Offers an automated data aggregation API named Agg360, that helps the users to connect to the banks. Also Provides a mobile SDK named Mob360, that analyses SMS data, call data and location data for credit use cases and an email API named Email360, that can filter email data for the customers to extract bank statements and generate credit reports.
FinBit has 1 investor. Key investors include Yodlee.
FinBit is associated with 2 legal entities: Finbonacci Softsys Private Limited, Yodlee Infotech Private Limited.
Yes. FinBit was acquired by Yodlee in February 2020.
The legal entities of FinBit currently have 2 directors, including Ravindra Thadimarri, Muthukrishna Rajakumar Sripriya.