Prior to this, the startup had raised $1.56 million in a seed funding round from Caesar Sengupta and others.
The proceeds will be deployed to enhance its agentic AI build, with clear verticalization in financial services across collections, upselling, and borrower profiling, Fundamento said in a press release.
Co-founded in 2020 by Ankit Durga, Megha Aggarwal, and Vickram Saigal, Fundamento is an agentic AI company specializing in intelligent borrower interaction solutions. Its AI-driven platform acts as a strategic engagement layer, enabling financial institutions to streamline lending operations, boost efficiency, and enhance customer experience.
By combining deep domain expertise with cutting-edge technology, Fundamento empowers banks, NBFCs, and fintechs to deliver smarter, faster, and more personalized borrower journeys, driving better business outcomes across the lending lifecycle.
Over the next year, Fundamento aims to expand its AI footprint in India’s BFSI sector with marquee enterprise customers, while also entering new international markets. The company plans to target the US and APAC regions, where debt collections, digital lending adoption, and financial services innovation present significant opportunities for its multi-agentic AI platform.
Over the last four years, the IIFL Fintech Fund invested across various segments in fintech. The portfolio comprises of – Leegality, FinBox, DataSutram, Finarkein Analytics, Finvu, Trendlyne, Insurance Samadhan, Xtracap Finance, Castler, Vitra.Ai, EasyRewardz, Multipl, Riskcovry, TrustCheckr (sold to True Caller).
