BankSathi Technologies, a Delhi-based fintech startup, has raised $200,000 in a seed funding round from a group of angel investors, including Dinesh Godara (founder TREAD); Rajendra Lora, Founder Freshokartz); and Anuj Ahuja and Aditya Talwar (founders Studybase).

As per the startup, it will use these funds for product development, team building and executing marketing and growth plan.

Started by Jitendra Dhaka, Sandeep Choudhary and former banker Himanshu Pujari in January 2020, BankSathi is an AI-enabled fintech startup that empowers consumers to save money and time on financial products through safe, easy, and trustable shopping.

BankSathi aims to promote the role of financial advisers in right and impeccable decision-making while buying retail loans, credit cards and insurance products through the BankSathi Advisor app, which is a user-friendly, multilingual interface available in Hindi and English.

The startup, in a statement, said,

“We currently have more than 5,000 advisers across 700 PIN codes of India; with a total adviser income of 75 lakh earned till now, currently we have 45 products of 15 financial institutions (FIs) in our bucket to sell, we are targeting 1 million advisers, and 150 products of more than 50 FIs ready to distribute through BankSathi App by the end of this financial year.”

BankSathi stated that it plans to create 5 million advisers and 500 products of 100 financial institutions available on its platform in the next three years.

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