Navanc Secures $1M Seed Funding to Transform Secured Lending in India

Navanc Secures $1M Seed Funding to Transform Secured Lending in India.

Navanc, a pioneering FinTech startup founded in 2021, has raised $1 million in seed funding, spearheaded by Prarambh Ventures with support from Inflection Point Ventures, Brigade REAP, and FirstPort Capital. The funds will drive Navanc’s ambitious expansion across India’s Tier 1 to Tier 4 cities and enhance its cutting-edge AI and blockchain solutions.

At the core of Navanc’s innovation is its AI-powered property scoring system, a first-of-its-kind in India, designed to streamline secured lending and insurance. This technology enables precise property valuations, reduces risks, and ensures transparency in transactions. Navanc integrates AI, IoT, and blockchain to create a seamless experience for stakeholders in the real estate and BFSI (Banking, Financial Services, and Insurance) sectors.

According to Navanc CEO Nagachethan S M, the funding will propel their vision to foster financial inclusion by making secured lending more accessible. Co-founder and CTO Byomkesh Jha emphasizes their use of advanced generative AI and computer vision models to redefine property assessments. Industry leaders like IPV’s Mitesh Shah and Brigade REAP’s Abhay Garg lauded Navanc’s transformative impact on real estate financial practices.

Navanc’s Founders

With its “Bharat Vision,” Navanc aims to bridge gaps in property lending across urban and rural areas, setting new benchmarks in PropTech. As the Indian property lending market experiences rapid growth, Navanc stands poised to lead the sector with its innovative approach to simplifying and enhancing real estate financing.