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BaaS Platform Buildd Bags $2 M; Aims To Accelerate India Growth

The new-age startup has already launched its first set of bundled credit+API based solutions in partnership with multiple banking and NBFC players

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Buildd, Banking-as-a-Service (BaaS) platform recently secured $2 Million in Pre-Seed funding. The round was led by Germany-headquartered venture capital firm Picus Capital and Mankekar Family Office. The company is also backed by operator founders including Ranjeet Singh (co-founder Pratilipi), Kunal Sharma (ex Freecharge), Nitin Agarwal (Founder B21), Aniruddha Patwardhan (Phonepe Engineering Head) & Kedar Swadi (Phonepe Data Science Head).

Buildd’s simple, modern APIs are designed for founders, developers, and product managers to build and ship complex financial products in no time. An intuitive, sandboxed platform with a wide variety of bundled tools for virtual cards, deposit accounts, BNPL, credit lines, receivables factoring, B2B payments, KYC/AML compliance management, onboarding, escrow and more, empowers users to focus on creating the best user experience possible, while Buildd handles the complexities of working with financial institutions’ legacy tech infrastructure as well as adherence to regulatory and compliance requirements. Global Banking-as-a-service (BaaS) players like Railsbank, SynapseFi and Solarisbank have been highly successful targeting fintechs as their customers. Models like Buildd have now emerged in the BaaS 2.0 wave, with a focus on including non-fintechs as well, via a more full-stack approach to serve the platform. The new-age startup has already launched its first set of bundled credit+API based solutions in partnership with multiple banking and NBFC players, and will now kick-start product expansion in the buy-now-pay-later (BNPL) and card domains, as well as strengthen its tech team by adding 50 full stack engineers to the rapidly growing Pune based team.

Sachin Gaikwad, Founder & CEO, Buildd said, "We are excited to partner with our investors who have deep experience in the financial infrastructure and tooling space and share our belief in the future of API driven banking. Our team is a heady mix of seasoned fintech experts & bankers, who have worked together for multiple years across startups, whose insights over the past 15 years in banking and fintech have helped us create a plug-and-play microservices architecture for the entire banking stack, giving it strength of compliance, flexible workflows and scalability.

According to the Global Fintech Market Research Report “The global financial technology market is expected to grow exponentially and reach a market value of approximately $324 billion by 2026, growing at a CAGR of ~25.2% over the forecast period 2022-2027”.

“The Indian FinTech market is well equipped to deliver embedded finance infrastructure given the foundation laid new-age solutions such as IndiaStack - particularly eKYC, Open Credit Enablement Network (OCEN) and Account Aggreator (AA). This has enabled us to leapfrog sophisticated markets like USA, Singapore as well as innovation hubs of FinTech such as LatAm on multiple occasions. Buildd will serve as a bridge between complex engineering/product rails on one hand and customer experience

innovation on the other, and serve this rising tide of financialisation of commerce, logistics, and more'' he further added.


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BaaS Platform Buildd Accelerate Growth

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