FinBox Raises $40 Million in Series B Round Led by WestBridge Capital

Indian fintech continues to witness strong momentum in 2025, and the latest headline comes from FinBox , a fast-growing digital credit infrastructure startup , which has raised $40 million in a Series B funding round . The round was led by WestBridge Capital , with participation from A91 Partners and Aditya Birla Ventures , highlighting strong investor confidence in India’s embedded finance ecosystem.

About FinBox: Powering Embedded Credit in India

Founded in 2015 by Rajat Deshpande, Pranav Manpuria, and Aditya Pangaria , FinBox started with a vision to simplify and accelerate access to digital credit . While fintech innovation was booming in payments, insurance, and wealth management, credit remained a major pain point in India.

Banks and traditional lenders struggled to reach underserved customers, while startups and digital platforms lacked the infrastructure to offer credit seamlessly. That’s where FinBox stepped in — providing a plug-and-play digital credit infrastructure for businesses and financial institutions.

With FinBox’s API-driven products, non-financial companies (e.g. e-commerce, logistics, SaaS platforms) can embed lending into their platforms, allowing end-users to access loans or credit seamlessly.

The Problem FinBox is Solving

India has a massive credit gap , especially for small businesses and new-to-credit customers. Despite growth in digital banking, credit penetration remains low:

• Nearly 70% of Indian SMEs struggle to get formal credit .
• Retail lending still heavily favors salaried customers with credit history.
• Millions of consumers remain excluded from mainstream financial systems.

FinBox addresses this gap by enabling:

• Embedded lending — integrating credit offerings directly into digital apps and platforms.
• Alternative credit scoring — using device data, behavioral insights, and AI to assess customers with thin or no credit history.
• Compliance-friendly APIs — making it easier for banks and NBFCs to scale digital lending without worrying about tech infrastructure.

? The Funding Details

The $40 million Series B round led by WestBridge Capital marks a significant milestone for FinBox. With A91 Partners and Aditya Birla Ventures joining in, the round brings both capital and strategic expertise.

According to the company, the funds will be used for:

• Product expansion — enhancing embedded credit APIs and digital lending stacks.
• Global expansion — scaling into Southeast Asia and other emerging markets where credit penetration challenges mirror India.
• Team growth — hiring across engineering, compliance, and data science.
• Strengthening partnerships with banks, NBFCs, and digital-first companies.

? Growth & Current Scale

FinBox has quietly become a leader in embedded credit, working with 50+ financial institutions and 200+ digital platforms .

• Over 20 million credit applications are processed annually using its infrastructure.
• The company has enabled $2 billion+ in credit disbursements across personal loans, BNPL (Buy Now, Pay Later), and SME financing.
• With lending demand surging, FinBox is targeting a 5X scale-up by FY26 .

Its focus on compliance and data privacy also makes it attractive to larger BFSI partners, at a time when regulators are tightening norms for digital lending in India.

? Why Investors Are Betting Big

For investors like WestBridge, the opportunity is clear. Embedded finance is projected to become a $500 billion market in India by 2030 , with lending as the largest component.

By positioning itself as the infrastructure layer — not competing with banks but enabling them — FinBox has created a scalable, defensible business model. This “picks and shovels” approach is what excites both venture capital and strategic investors.

? What’s Next for FinBox

With this fresh funding, FinBox is set to:

1. Expand its credit stack beyond India — targeting Indonesia, Vietnam, and the Philippines.
2. Double down on AI-driven underwriting models to improve access for new-to-credit customers.
3. Explore partnerships with global banks and fintechs , positioning itself as an export-ready Indian fintech brand.