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FinX, a leading skilling platform dedicated to bridging the gap between formal education and employability in India’s Banking, Financial Services, and Insurance (BFSI) sector, has raised $6 million in seed funding from Elevar Equity.
This funding marks a significant milestone for the edtech startup as it plans to expand its geographical footprint, diversify its offerings, and enhance its technology platform to meet the growing demand for skilled talent in BFSI and beyond.
Driving Skilling in Tier-2 and Tier-3 Cities
With the fresh infusion of capital, FinX aims to strengthen its presence in Tier-2 and Tier-3 cities, empowering students in underserved regions to become job-ready professionals. The startup plans to broaden its product portfolio to include IT skill training alongside its BFSI-focused offerings, ensuring a wider reach and greater impact.
Himanshu Vyapak, Founder and CEO of FinX, highlighted the importance of this funding:
“This funding from Elevar Equity will enable us to expand our footprint, deepen our impact in Tier-2 and Tier-3 cities, and strengthen the skilling ecosystem for colleges and corporates. We are thrilled to partner with Elevar Equity, whose commitment to creating meaningful social impact aligns perfectly with our vision.”
A Comprehensive Approach to Skilling
Founded in 2019, FinX operates with the mission to connect formal education with practical skilling, bridging the gap between academic knowledge and the demands of the workforce. The platform offers comprehensive training programs designed to make students job-ready for the BFSI sector, which is one of the largest and fastest-growing industries in India.
FinX’s wholly-owned subsidiary, CIEL, is a leading corporate training company in the BFSI industry. It has delivered corporate learning solutions across banking, asset management, wealth advisory, insurance, NBFCs, financial distribution, and broking sectors.
Expanding into Tech Skilling
As part of its growth strategy, FinX is venturing into technology-focused courses to address the rising demand for skilled professionals in IT and related fields. The startup also plans to strengthen its placement services to connect skilled talent with relevant opportunities.
Currently, FinX has a dedicated team of 80+ associates and a network of 1,000+ freelance trainers. Its leadership team comprises seasoned professionals with an average of 20 years of experience in the BFSI sector.
Strategic Acquisitions on the Horizon
To bolster its capabilities, FinX is exploring strategic acquisitions of skilling and training firms in the finance and technology domains. This move will enable the startup to enhance its offerings and scale its impact further.
Investor Confidence
Sandeep Farias, Founder and Managing Partner of Elevar Equity, emphasized the transformative potential of FinX:
“Education is not just an individual aspiration for underserved Entrepreneurial Households; it directly impacts their employability, the economic well-being of their families, and their ability to climb the social ladder. We are thrilled to back FinX in its mission to enhance employability and drive economic empowerment. Himanshu and the team bring a rare blend of vision, inclusivity, and execution expertise to scale this impactful model.”
Shaping the Future of Skilling
FinX’s innovative approach to bridging the gap between education and employability is poised to make a lasting impact on India’s workforce. By focusing on underserved regions, expanding into tech skilling, and leveraging strategic partnerships, the startup is set to become a key player in India’s skilling ecosystem, driving economic empowerment and social mobility.
As the BFSI and technology sectors continue to grow, FinX is well-positioned to lead the way in shaping the future of skilling and employability.
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