Ignosis, an enterprise-first Account Aggregator (AA) infrastructure and financial data intelligence platform, has secured $4 million in a pre-Series A funding round led by Peak XV’s Surge. The round also saw participation from Force Ventures, Razorpay Ventures, Cred founder Kunal Shah, and other existing backers.
Prior to this round, the Ahmedabad-based startup had raised $1.49 million from Angel List and other investors.
Founded in 2022 by Nirav Prajapati and Chintan Sheth, Ignosis aims to solve deep-rooted inefficiencies in India’s financial data ecosystem. Its AI-powered platform provides income verification, spend analysis, intelligent collections, portfolio insights, hyper-personalised nudges, and fraud risk signals.
The company plans to deploy the fresh capital towards scaling engineering, business, and compliance teams. It is also working on finance-specific large language models (LLMs) and agentic AI use cases for the BFSI sector to deliver hyper-personalised experiences.
Despite India’s rapid digital transformation, over 160 million consumers remain credit underserved, lacking formal proof of income and thus excluded from affordable loans, insurance, and financial planning. Similarly, nearly 80% of MSMEs struggle to access formal credit. Ignosis is building infrastructure to close this gap with secure, consent-driven data sharing.
“Just as UPI became the default rails for payments, Account Aggregators are set to become the backbone for secure financial data exchange. Ignosis is building a reliable and intelligent AA layer that makes financial data both accessible and actionable,” said Nirav Prajapati, co-founder and CEO of Ignosis.
The startup leverages RBI- and DPDP-compliant DPI rails such as AA, OCEN, and ONDC-FS to unlock faster, safer, and more inclusive financial access for more than 300 million underserved Indians.
By: Arushi Agarwal
