Bengaluru-based InPrime Finserv raises $3 million, led by Matrix Partners 

InPrime Finserv, a tech-led NBFC, has raised $3 million in a Series A round led by Matrix Partners India. It also saw participation from existing investors, InfoEdge Ventures, Titan Capital, and Kettleborough VC.

The company said in a press release that funds will be deployed to broaden the company’s geographical presence, grow the team across risk, engineering, analytics, and sales, develop digital channels and credit scoring models, and expand its loan portfolio.

InPrime Finserv, a brand under STK Credit Private Limited, an NBFC headquartered in Bangalore, specialises in serving the “Prime” segment within India’s informal economy. InPrime was established in December 2021 by Rajat Singh, Manish Raj, and Sneh Thakur, former members of the leadership team at Ujjivan SFB.

Rajat Singh, co-founder and CEO of InPrime, said, “InPrime is dedicated to addressing the escalating credit demand within the informal economy, facilitating their contribution to India’s growth story. With the ongoing digital revolution in India, our objective is to provide these customers with superior products and services, ushering in a technology-led financial inclusion 2.0 for informal economy customers at scale.”

Avnish Bajaj, Founder and Managing Director, Matrix Partners India, said, “A core part of India’s economic growth is driven by small and medium businesses in the informal sectors of ‘Bharat’. InPrime’s objective of serving this sector with tailored products to help them be part of the $5T and then $10T Indian GDP is incredibly inspiring and necessary.”

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