Mumbai: Fintech startup FinMind has raised an undisclosed amount in angel funding from well-known investors Alok Gupta and Amit Maheshwari.
Gupta is the chief executive officer of one of the largest diversified business conglomerates in the Middle East. Maheshwari heads AKM Global, a leading tax firm in India. FinMind is perhaps one of the few fintech startups that offer automated credit analysis of corporate entities through its proprietary algorithm and SaaS platform.
Founded by Bhumika Vagrecha and Anjusha Gupta, FinMind uses algorithms to process, analyse and interpret a company’s financial statements and generate key insights. It assesses credit risk events and generates credit ratings with default probability, without any human intervention and based on data analytics and artificial intelligence.
The company, which currently provides services to several well-known brands and financial institutions, is now looking to go global.
“FinMind’s natural language generation technology converts complex financial data into actionable insights in a simple and concise credit report and its cutting-edge predictive analytics capabilities enable early identification of a potential credit risk event and generate credit rating with default probability,” Maheshwari said.
