Ignosis Raises $4 Mn To Provide Financial Data To BFSI Enterprises

SUMMARY

Ignosis has raised $4 Mn in its pre-Series A round led by Peak XV Partners’ Surge, with participation from Razorpay Ventures, Force Ventures, CRED’s Kunal Shah and existing investors

The startup plans to use the fresh capital to expand its AI product roadmap, scale enterprise adoption and deepen its governance and compliance efforts

Ignosis is an account aggregator infrastructure and financial data intelligence platform that helps banks, NBFCs, insurers and wealth managers take more accurate underwriting and advisory decisions

Fintech startup Ignosis has raised $4 Mn in its pre-Series A round led by Peak XV Partners’ Surge, with participation from Razorpay Ventures, Force Ventures, CRED’s Kunal Shah and existing investors.

The startup plans to use the fresh capital to expand its AI product roadmap, scale enterprise adoption and deepen its governance and compliance efforts. Cofounder and CEO Nirav Prajapati told Inc42 that compliance is as important as scale in a sector where consumer trust and data protection are critical.

Founded in 2022 by Prajapati and Chintan Sheth, Ignosis is an account aggregator infrastructure and financial data intelligence platform that helps banks, NBFCs, insurers and wealth managers take more accurate underwriting and advisory decisions. It claims to be already working with more than 125 financial institutions.

The Ahmedabad-based startup claims that its platform is aligned with the RBI’s account aggregator framework and the DPDP Act 2023, which it says will help financial institutions innovate while safeguarding consumer privacy.

Ignosis’ platform enables secure, consent-driven sharing of financial data under the account aggregator framework. This allows consumers to share income and financial records directly from the source to a regulated service provider when applying for loans, insurance policies or investment products.

The startup’s AI stack builds on this data to deliver income detection, fraud and risk signals, and personalised insights. Prajapati said this opens the door to hyper-personalised products. For instance, a wealth advisor could recommend micro-investments based on an individual’s monthly spending and saving behaviour.

The cofounder claimed that Ignosis turned profitable in FY25 after breaking even in FY24, and is growing more than 100% year-on-year. It currently has a 35-member team. Prajapati said that Ignosis will continue to grow without compromising profitability.

The funding comes at a time when there is a wave of AI-led fintech startups building on India’s digital public infrastructure. Startups are increasingly layering intelligence over legacy systems to modernise underwriting, widen access to credit and enable personalised financial services at scale.

For instance, Oolka recently raised $7 Mn seed funding for an AI-driven repayment and credit management platform.