About Finin
Finin is a Financial Services company based in Bengaluru (India) founded in 2019 by Sudheer Maram, Siddardha Gandham, and Suman Gandham, and was acquired by Open in December 2021. Digital bank for Individuals. Finin has raised $400.67 thousand across 1 funding round from investors including Angel List, Wellfound and Open. Finin was last valued at $1.71 million in July 2020. Its chief executive, as recorded, is Suman Gandham. Its Indian entity Dinero Innovations Private Limited reported revenue of ₹1.89 Cr. Its focus areas include FinTech, Banking Tech, Internet First Banks and Through Bank Partnerships. Its competitors include Niyo, Freo and Avail Finance; 3 of its 3 listed competitors have raised funding.
Company details
Finin was founded in 2019 in Bengaluru, India, as a digital bank targeting individuals. Core operations focus on an app-based platform accessible on iOS and Android devices. Services encompass savings accounts, NFC-enabled debit cards for purchases, bill payments, investment options, money transfers, and AI-driven insights into save-spend patterns. The fintech sector is served through these streamlined financial tools.
- Headquarters Bengaluru, India
- Founders Sudheer Maram, Siddardha Gandham, Suman Gandham
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website finin.in
- Social LinkedIn X Facebook
- Acquired by Open (Dec 2021)
- Legal Name Dinero Innovations Private Limited
- Date of Incorporation 20 May, 2019
- Jurisdiction Bangalore, Karnataka, India
- Annual Revenue₹1.89 Cr
FY 2022 · +9532% YoY
- Net Profit₹45.8 Lakh
FY 2022 · 24% margin
- EBITDA₹54.3 Lakh
FY 2022 · 29% margin
- Total Equity Funding$400.67K (USD)
in 1 rounds
- Latest Funding Round$400.67K (USD), Seed
Jul 2020
- InvestorsAngel List
& 6 more
- Acquired byOpen
(Dec 2021)
Associated legal entities of Finin
Finin is associated with 2 registered companies on The Company Check; the primary company is Dinero Innovations Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2022) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Dinero Innovations Private Limited CIN U65990KA2019PTC202895 | Active | 20 May 2019 | Bangalore, Karnataka | ₹1.9 Cr | 2 | View details | |
| Open Financial Technologies Private Limited CIN U67200KA2017PTC166507 | Active | 19 May 2017 | Bengaluru, Karnataka | ₹58.1 Cr | 373 | 8 | View details |
Funding Insights of Finin
Finin has successfully raised a total of $400.67K through 1 strategic funding round. The most recent funding activity was a Seed round of $400.67 thousand completed in July 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $400,668
- Total Rounds 1
- Last Round Seed — $400,668
- First Round $400,668
(Jul 2020)
- Investors Count 6
All 1 funding rounds of Finin with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2020 | $400,668 | Seed | $1.71M | Unicorn India Ventures |
| Date | Valuation | Stage |
|---|---|---|
| Jul 2020 | $1.71M | •••••••• |
Last known valuation $1.71M (Jul 2020). 7 investors in total: 6 institutional and 1 angel.
Investors in Finin
Finin has secured backing from 7 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Angel List, Wellfound and Open.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm offering seed funding and support to startups in technology and innovation sectors. | 2014 | unicornivc.com | Mumbai, India | |
Early-stage investments and mentoring services are conducted by Astir Ventures in various locations. | astir.vc | San Jose, United States | ||
Startup jobs are connected to individuals via a dedicated platform. | 2013 | wellfound.com | New York, United States | |
Blockchain development services are provided to various clients. | 2010 | angel.co/bitcoin-opportunity-corp | New York, United States | |
Alternative investment platform for startups and investors is operated. | 2010 | angellist.com | San Francisco, United States | |
KG Kishore Ganji | Angel investor, entrepreneur, focused on tech startups, based in India and US. | unknown_a78fe24d8a444acc9 | ||
A platform is operated for streamlining business payments and invoicing. | 2017 | open.money | Bengaluru, India |
Investor details for Finin
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Board of directors of Dinero Innovations Private Limited (Finin)
Dinero Innovations Private Limited is the primary company behind Finin. The boards of the 2 registered companies of Finin currently have 6 directors; the longest-serving is Ajeesh Achuthan, appointed in 2017. 12 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ajeesh Achuthan DIN 07948982 | Director | 17 Oct 2017 | 9 yrs | Open Financial Technologies Private Limited |
| Deena Jacob DIN 06552579 | CFO | 15 May 2018 | 8 yrs 5 mo | Open Financial Technologies Private Limited, Dinero Innovations Private Limited |
| Anish Achuthan DIN 02853403 | Director | 27 Aug 2018 | 8 yrs 2 mo | Open Financial Technologies Private Limited |
| Bhaskar Majumdar DIN 02131404 | Nominee Director | 20 Apr 2019 | 7 yrs 6 mo | Open Financial Technologies Private Limited |
| Mabel Annie Chacko DIN 02853367 | Director | 22 Sep 2021 | 5 yrs 1 mo | Open Financial Technologies Private Limited, Dinero Innovations Private Limited |
| Mohit Naresh Bhandari DIN 02528942 | Nominee Director | 04 Apr 2022 | 4 yrs 7 mo | Open Financial Technologies Private Limited |
People of Finin
3 people are tracked at Finin (3 in leadership).
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership | |
| Co-Founder & CEO | Leadership |
Complete people profiles for Finin
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
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- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Finin
Figures of Dinero Innovations Private Limited, the primary company behind Finin, for FY 2022. Revenue was ₹1.89 Cr (+9532% year on year). Net profit was ₹45.8 Lakh (24% margin). EBITDA was ₹54.3 Lakh (29% margin).
- ₹1.89 CrRevenue · FY 2022 · +9532% YoY
- ₹45.8 LakhNet profit · 24% margin
- ₹54.3 LakhEBITDA · 29% margin
- ₹1.3 LakhPaid-up capital
Balance sheet, profit and loss, cash flow and ratios of Dinero Innovations Private Limited are on its company page.
Detailed financial statements for Finin
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Finin
4 dated milestones of Finin across 2 years, from founding to its latest funding, stage changes and deals.
- Founded Finin is founded.
- Funding First funding round of $401K.
- Milestone Reaches Minicorn status.
- Exit Acquired by Open.
Competitors of Finin
Finin has 3 listed competitors in our database, 3 of them funded. They include Niyo, Freo and Avail Finance.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| goniyo.com | 2015 | Bengaluru, India | $179.35M | 410 | Online platform for wealth management | |
| freo.money | 2015 | Bengaluru, India | $46.31M | 177 | Digital banking services are offered to individual users. | |
| availfinance.in | 2017 | Bengaluru, India | $38.48M | 2 | Neobank for individuals |
Detailed competitors of Finin
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Related news about Finin
Complete news archive for Finin
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Frequently Asked Questions about Finin
Finin was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Finin is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Suman Gandham is the CEO of Finin, as recorded in our data. They have also founded this company.
Finin is a funded company, having raised a total of $400.67K across 1 funding round to date. The company's 1st funding round was a Seed of $400.67K, raised on Jul 2020.
The primary company behind Finin, Dinero Innovations Private Limited, reported revenue of ₹1.89 Cr for FY 2022, up 9532% year on year.
Finin was founded in 2019 in Bengaluru, India, as a digital bank targeting individuals. Core operations focus on an app-based platform accessible on iOS and Android devices. Services encompass savings accounts, NFC-enabled debit cards for purchases, bill payments, investment options, money transfers, and AI-driven insights into save-spend patterns. The fintech sector is served through these streamlined financial tools.
Finin's top competitors include Freo, Niyo and Avail Finance.
Finin has 7 investors. Key investors include Angel List, Wellfound, Open, Unicorn India Ventures, and Astir Ventures.
The valuation of Finin is $1.71M as of Jul 2020.
Finin is associated with 2 legal entities: Dinero Innovations Private Limited, Open Financial Technologies Private Limited.
Yes. Finin was acquired by Open in December 2021.
The legal entities of Finin currently have 6 directors, including Mabel Annie Chacko, Anish Achuthan, Ajeesh Achuthan and others.