Fundamento, a novel agentic Artificial Intelligence (AI) platform, directly specific to the financial services industry, has recently successfully finished a Pre-Series A funding round, raising $1.9 million (approximately ₹16 crore). The IIFL Fintech Fund led this important funding initiative. Other notable investors also participated in the round, including The Players Fund, an investment backed by high-profile cricketers KL Rahul and Ben Stokes, Venture Catalysts, Lead Invest, Epic Angels, and a group of other angel investors. This new funding is after a previous seed round of funding where the startup had raised $1.56 million in investment by investors, including Caesar Sengupta, among others.

Strategic use of fresh capital

The successful capital raise highlights the increased investor confidence in the technology used by Fundamento and its ability to transform financial services. The influx of capital is essential to the expansion and development in technology of the company. The participants in the round, especially the IIFL Fintech Fund, which has a history of investment in different segments of fintech, are indicative of a good endorsement of the Fundamento value proposition into the financial technology ecosystem at large.

Fundamento has a definite plan on how to utilize the recently raised capital. The firm will mainly invest the proceeds towards investing heavily in its agentic AI construction. This improvement will consider a verticalization of its AI solutions in the financial services sector in three major aspects of the lending lifecycle. These are collections, upselling, and borrower profiling. Fundamento plans to bring more specialized and effective solutions to its clients by increasing its emphasis on these particular verticals.

This investment will enable Fundamento to build on its platform as a strategic engagement layer, according to a press release from the company. It is an AI-driven layer that will allow financial institutions to simplify their lending process, increase overall efficiency, and make the experience of borrowers significantly better. The strategic use of the funds is therefore focused on enhancing the functional capabilities of the AI to promote improved business results throughout the lifecycle of lending.

Core offering and ambitious goal

Ankit Durga, Megah Aggarwal, and Vickram Saigal co-founded Fundamento in 2020. The core specialization of the company is to offer smart borrower interaction services on its agentic AI platform. The value proposition of the Fundamento platform is that it brings together expertise in financial service domains and advanced technology.

The key role of the platform is to empower a wide variety of financial institutions, such as banks, NBFCs (Non-Banking Financial Companies), and fintechs. With the implementation of an AI Fundamento, these institutions can provide smarter, faster, and personalized borrower journeys. This strengthening of interaction will increase operational efficiency and generate better business outcomes for its clients. The technology is basically a refined and automatic strategic layer that streamlines the essential lender-borrower interactions.

Fundamento has established effective expansion targets within the next year. In the Indian market, the company intends to increase its presence in AI in the BFSI (Banking, Financial Services, and Insurance) market through alliances with renowned enterprise clients. This focus suggests a market approach to large, mature financial institutions in their domestic market.

Fundamento is considering making a strategic entry into new foreign markets. The US and the APAC (Asia-Pacific) regions are among the market segments that the company has identified as its multi-agentic AI platform targets. These regions have been specifically targeted because of the strong opportunities that exist in these areas due to the high demand for innovation in areas such as debt collections, adoption of digital lending innovations, and generally, financial services innovation. This expansion to these foreign markets would aim at Fundamento to leverage on global demands and expand its sophisticated AI solutions beyond the Indian subcontinent.

Conclusion

The Pre-Series A funding of Fundamento, which was led by IIFL Fintech Fund and accompanied by high-profile investors, is a decisive milestone on the agentic AI platform. The capital of $1.9 million will be invested strategically in verticalizing its AI construction in its key financial areas, such as collections and borrower profiling. This investment does not just prove the technology of Fundamento, but also highlights its contribution to the future of smart, effective, and customized financial services all over the world.