About Finnov
Finnov is a Financial Services company based in Gurugram (India) founded in 2017. It operates a digital marketplace for business loans to facilitate financing. It operates on a B2B model. Finnov has raised $145 million across 2 funding rounds from investors including Newquest, Motilal Oswal Private Equity and Alpine Capital Advisors. Its Indian entity Finnov Softwares Services Private Limited reported revenue of ₹52.7 Lakh. Its focus areas include Fintech, Lending and Business Loans. Its competitors include Vivriti Capital, Market Finance India and InstaKash; 1 of its 3 listed competitors has raised funding.
Company details
Finnov operates with a B2B model, focusing on offering financial products and advice, fintech, facilitating loans and financing, and business loans. Operates a digital marketplace for business loans to facilitate financing. It emphasizes efficiency, client-focused solutions, and growth, fostering partnerships and innovation in its operations.
- Headquarters Gurugram, India
- SectorsFinancial Services
- Website finnov.in
- Social Facebook
- Legal Name Finnov Softwares Services Private Limited
- Date of Incorporation 27 Apr, 2017
- Jurisdiction Gurugram, Haryana, India
- Annual Revenue₹52.7 Lakh
FY 2021 · +63% YoY
- Net Profit₹7.1 Lakh
FY 2021 · 13% margin
- EBITDA₹10.7 Lakh
FY 2021 · 20% margin
- Total Equity Funding$145M (USD)
in 2 rounds
- Latest Funding Round$70M (USD), Series C
Mar 2021
- InvestorsNewquest
& 2 more
Associated legal entities of Finnov
Finnov operates through Finnov Softwares Services Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2021) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Finnov Softwares Services Private Limited CIN U74999HR2017PTC068816 | Active | 27 Apr 2017 | Gurugram, Haryana | ₹0.5 Cr | 2 | View details |
Funding Insights of Finnov
Finnov has successfully raised a total of $145M across 2 strategic funding rounds. The most recent funding activity was a Series C round of $70 million completed in March 2021. 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 $145M
- Total Rounds 2
- Last Round Series C — $70M
- First Round $75M
(Feb 2021)
- Investors Count 3
All 2 funding rounds of Finnov 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 |
|---|---|---|---|---|---|
| Mar 2021 | $70M | Series C | – | Newquest, Motilal Oswal Private Equity | – |
| Feb 2021 | $75M | Series C | – | Alpine Capital Advisors | – |
3 investors in total: 3 institutional.
Investors in Finnov
Finnov has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Newquest, Motilal Oswal Private Equity and Alpine Capital Advisors.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity secondary market investments are managed diversely. | 2011 | nqcap.com | Hong Kong, China | |
Private equity investment firm focused on growth stage companies | 2006 | motilaloswalpe.com | Mumbai, India | |
Placement and advisory services for capital raising are provided. | alpineca.com |
Investor details for Finnov
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Board of directors of Finnov Softwares Services Private Limited (Finnov)
Finnov Softwares Services Private Limited is the primary company behind Finnov. The board of Finnov Softwares Services Private Limited currently have 2 directors; the longest-serving is Neha Shrivastava, appointed in 2021. 4 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Neha Shrivastava DIN 09368564 | Director | 21 Oct 2021 | 5 yrs | Finnov Softwares Services Private Limited |
| Sita Sinha DIN 10105868 | Director | 08 Mar 2024 | 2 yrs 7 mo | Finnov Softwares Services Private Limited |
Financials of Finnov
Figures of Finnov Softwares Services Private Limited, the primary company behind Finnov, for FY 2021. Revenue was ₹52.7 Lakh (+63% year on year). Net profit was ₹7.1 Lakh (13% margin). EBITDA was ₹10.7 Lakh (20% margin). Revenue has grown at a compounded annual rate of +810% over three years.
- ₹52.7 LakhRevenue · FY 2021 · +63% YoY
- ₹7.1 LakhNet profit · 13% margin
- ₹10.7 LakhEBITDA · 20% margin
- ₹1 LakhPaid-up capital
- +810%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Finnov Softwares Services Private Limited are on its company page.
Detailed financial statements for Finnov
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Finnov
3 dated milestones of Finnov across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Finnov is founded.
- Funding First funding round of $75.0M.
- Funding Latest funding round, Series C, of $70.0M.
Competitors of Finnov
Finnov has 3 listed competitors in our database, 1 of them funded. They include Vivriti Capital, Market Finance India and InstaKash.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| vivriticapital.com | 2017 | Chennai, India | $205.2M | 704 | Debt financing solutions are provided to mid-market enterprises. | |
| marketfinance.co.in | 2015 | Bengaluru, India | Operates a digital marketplace for business term loans to facilitate easy access. | |||
| instakash.in | 2014 | Bengaluru, India | Provides lending services for small and medium businesses, including term loans and automobile financing. |
Detailed competitors of Finnov
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Top companies in Alternative Lending
3 companies that operate in the same segment as Finnov (Alternative Lending) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Payment acceptance and processing solutions provider for businesses | 2018 | Gurugram, Haryana, India | USD 589.25 M | USD 179.52 M | 3,670 | |
Technology platform for real estate transactions and mortgages is provided. | 2014 | Gurugram, Haryana, India | USD 97.98 M | USD 28.9 M | 9,619 | |
Financial services are provided, specializing in personal and business loans. | 2016 | Mumbai, Maharashtra, India | USD 320.39 M | USD 106.45 M | 2,161 |
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Frequently Asked Questions about Finnov
Finnov was founded in 2017 and raised its 1st funding round 4 years after it was founded.
Finnov is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Finnov is a funded company, having raised a total of $145M across 2 funding rounds to date. The company's 1st funding round was a Series C of $75M, raised on Feb 2021.
The primary company behind Finnov, Finnov Softwares Services Private Limited, reported revenue of ₹52.7 Lakh for FY 2021, up 63% year on year.
Finnov operates with a B2B model, focusing on offering financial products and advice, fintech, facilitating loans and financing, and business loans. Operates a digital marketplace for business loans to facilitate financing. It emphasizes efficiency, client-focused solutions, and growth, fostering partnerships and innovation in its operations.
Finnov's top competitors include Vivriti Capital, Market Finance India and InstaKash.
Finnov has 3 investors. Key investors include Newquest, Motilal Oswal Private Equity, and Alpine Capital Advisors.
Finnov operates through Finnov Softwares Services Private Limited.
The legal entities of Finnov currently have 2 directors, including Neha Shrivastava, Sita Sinha.