About FinBit
FinBit is a company based in Bengaluru (India) founded in 2017 by Prashant Paliwal was acquired by Yodlee in February 2020.. The company has 1 employees as of March 30, 2024. FinBit operates in a competitive market with competitors including Codat, Banked, Yodlee, Bud and Method, among others.
- Headquarter Bengaluru, India
- Employees 1 as on 30 Mar, 2024
- Founders Prashant Paliwal
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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- Legal Name Finbonacci Softsys Private Limited
- Date of Incorporation 26 Dec, 2018
- Jurisdiction Bangalore North, Karnataka, India
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Funding Insights of FinBit
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in FinBit
FinBit has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Yodlee. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Cloud-based data aggregation and analytics for financial institutions are offered.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by FinBit
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - FinBit
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Finbit Comparisons
Competitors of FinBit
FinBit operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Codat, Banked, Yodlee, Bud and Method, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Developer of cloud-based financial analysis and forecasting solutions for small and medium businesses
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| domain | founded_year | HQ Location |
Open banking APIs for payments and data access are provided.
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| domain | founded_year | HQ Location |
Cloud-based data aggregation and analytics for financial institutions are offered.
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| domain | founded_year | HQ Location |
Bud Financial is focused on transforming transaction data into actionable insights for financial institutions.
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| domain | founded_year | HQ Location |
API-enabled debt repayment tools are provided for financial services.
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| domain | founded_year | HQ Location |
open banking API solutions
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about FinBit
When was FinBit founded?
FinBit was founded in 2017.
Where is FinBit located?
FinBit is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of FinBit?
Prashant Paliwal is the current CEO of FinBit. They have also founded this company.
How many employees does FinBit have?
As of Mar 30, 2024, the latest employee count at FinBit is 1.
What is the annual revenue of FinBit?
Annual revenue of FinBit is $931.21K as on Mar 31, 2023.
What does FinBit do?
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.
Who are FinBit's investors?
FinBit has 1 investor. Key investors include Yodlee.
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