India based startup, Finance Buddha, making products related to financial services has raised Pre Series A funding from The Chennai Angels, Chennai based Angel Investors group. The raised amount will be used to improve the tech platform and expand to more geographies across the country.
Finance Buddha is right now present in over 12 cities of India with over 200 people on board. In current financial year, which is to end in March, the startup has disbursed loans of more than INR 1000 Crores ($150 Million) with the help of the hybrid marketplace model developed by the team. It covers items such as personal loans, unsecured business loan, loan against property, insurance and home loan.
With the raised funding, the startup is in process of developing a better and interactive platform with a better recommendation engine to suggest the customers with the best loans and bank options.