Chennai-based fintech start-up Finsire today announced raising of $1.3 million in seed funding.

The funding round saw participation from iSeed, Spark Capital, Razorpay co-founders Shashank Kumar and Harshil Mathur, M2P Fintech co-founders R Madhusudanan, A Muthukumar A, and R Prabhu, among several other investors.

Finsire provides lending enablement services to banks, NBFCs, fintech companies, credit requirement distribution, and depositaries by permitting digital assets to be taken as collateral.

Shreyans Nahar, CEO and Co-founder of Finsire, said Indian households hold over 14 trillion dollars in assets, and global households' assets are over 400 trillion dollars. "Today, these assets are extremely hard to pledge. The idea is to allow the asset holder to do what they wish to do with these assets.”