Background 

  • Founded in 2006 and headquartered in India, Fintellix (formerly known as iCreate), is a banking technology software and services provider
  • Fintellix focuses on compliance risk and analytics solutions. It also offered banking domain led technology consulting services to its customers
  • Fintellix serves global banks and regional banks, supporting their requirements for India, South East Asia and Middle East & Africa
  • Fintellix was looking to raise the growth equity round to fund further product development and market expansion initiatives

Process

  • DC Advisory was mandated to help raise growth equity from a financial investor which shared the company’s vision to build a leading banking regulatory tech platform for the emerging markets
  • DC Advisory worked closely with the management and shareholders in positioning the business and deal collateral and marketed the opportunity to Indian and global financial sponsors with an interest in banking technology in emerging markets
  • DC Advisory ran a controlled auction process. Interested sponsors were shortlisted and provided access to a data room and a vendor due diligence report

Outcome 

  • Fintellix (formerly iCreate) raised a series B growth equity round of INR 500 million (c.USD 9.2M), led by Sequoia Capital. Existing investors IDG Ventures also participated in the round