Data Sutram secures $3 million in funding to accelerate product development for BFSI

Data Sutram, an emerging B2B SaaS company, raised an investment of USD 3M in its latest funding round to advance its mission of helping enterprises find answers for growth.

The investors have demonstrated their confidence in the team's vision, technology, and product capabilities.

This round was led by Bharat Fund with participation from Singularity Growth Fund, IIFL, YAN, White Venture & other existing investors and marks a significant milestone in the startup's growth trajectory as the company gears to strengthen its product portfolio and accelerate growth within the BFSI sector.

Data Sutram focuses on solving core banking challenges, offering insights obtained by blending GDPR-compliant data from 250+ sources. Their product suite Find, Authenticate & Grow, has garnered significant traction across major Banks, NBFCs and fintechs globally today.

“This funding comes at the right time and gives us the horsepower needed to accelerate growth. Over the last year, we have been focused on acquiring talent and developing deep tech products powered by external intelligence. Senior leaders from the BFSI domains are now leading sales, product development and engineering efforts."

This addition of funds coupled with human capital will give us the necessary edge to drive innovation within the fintech space.

And, we are excited to see what the future holds,” said Rajit Bhattacharya, Founder & CEO, Data Sutram.These funds will be used to further enhance Data Sutram's product offerings, facilitating customer acquisition, credit underwriting, fraud investigation & collections in financial services.

“Datasutram has demonstrated its ability to create an infrastructure that provides industry with actionable, reliable intelligence on fraud and risk, thus allowing their enterprise customers to optimize their costs when delivering to previously underserved markets."

"This has been validated with their work with leading institutions in India, and we are glad to partner with them to solve for smart customer acquisition, risk and loss management,” says Sanjay Jain, Partner, Bharat Fund.

Data Sutram has gained the trust of some of India's most well-known brands, by structuring data on 60 million+ businesses and 1 billion+ consumers across 20,000 pincodes and 200+ categories, providing answers that promote smart growth & reduce risks. Its latest product offerings were showcased to industry leaders at the recently concluded Global Fintech Fest 2023 (GFF) where the audience lauded their vision for financial inclusion and building resilient systems.

“Data Infrastructure in Fintech is increasingly becoming important globally & Data Sutram has demonstrated very good initial traction.” - Vikrant Khorana, Operating Partner, Singularity Growth Fund.

Talking about the notable additions to the team, Upendra Namburi is leading revenue growth as the Chief Business Officer, a banking and insurance professional who has held leadership roles with Bharti AXA General Insurance, SBI Cards, ICICI Bank and ABN AMRO.

“Banks and financial service organizations now need to play smarter to gain share and profitability."

"Our products offer the edge required by product, sales and risk professionals to accelerate growth and increase business efficiency, like never before,” said Upendra Namburi, Chief Business Officer, Data Sutram.Data Sutram, founded in 2019 by Rajit Bhattacharya, Ankit Das, and Aisik Paul, is a Mumbai based startup that provides answers for smart accelerated growth on Markets, Businesses, Consumers and Risk with a focus on the BFSI sector.

Data Sutram's proprietary framework blends unstructured and structured data from over 250 sources that yields Intelligence on 1B+ Consumers and 60 million+ Businesses. In addition, the Data Sutram platform can seamlessly blend internal client data & financial regulated data to boost growth.