Fincover invests 7 crore to develop Fintech App - Funding the Future of Fintech | Mint
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Business News/ Brand Stories / Fincover invests 7 crore to develop Fintech App - Funding the Future of Fintech

Fincover invests 7 crore to develop Fintech App - Funding the Future of Fintech

Finfortune is leaving no stone unturned working towards the launch of their Fincover app, a cutting-edge fintech application that is set to redefine the way you manage your finances


In an era of digital transformation, the financial landscape is evolving at an unprecedented pace, numerous fintech companies have emerged making finance simple and accessible to all. Despite the abundance of readily available information, Indian consumers do not have the patience or skill to read and understand the benefits of every product and use them to their advantage. It’s where the need for a financial intermediary arises. Finfortune, a financial services company based in Chennai which was launched in the year 2020, to democratize finance and make it accessible to all, is all set to shift gears as they are preparing to launch their Fintech app. 

Investing for Fintech Excellence through Fincover App

Finfortune is leaving no stone unturned working towards the launch of their Fincover app, a cutting-edge fintech application that is set to redefine the way you manage your finances. Packed with innovative and punchy features, the Fincover app empowers you to take control of your financial future like never before. Packing multiple features into one such as financial planning, checking their financial goals, tracking your progress, and buying products that align with their financial goals, the Fincover app will be the way forward to attain financial safety and security. At present, they have invested over 7 crores in the development of the app through bootstrapping. Fincover offers more than 200+ financial products and has partnered with leading banks, NBFCs, Insurance companies, Fund houses, and other financial institutions to distribute their products to users who require them. Users can use this platform to compare multiple products and buy the one that fits their requirements the most. 

According to a report by SEBI, only 27% of the Indian populace is financially literate, there is an increased need for financial literacy especially in tier 2 and tier 3 towns in India. A global pandemic like Covid 19 highlighted how much Indians were financially underprepared staring in front of adversity. Sensing the increased need for financial literacy, the Fincover app will provide a comprehensive view of your financial portfolio highlighting the areas you would need to work on for a comfortable financial future. The idea behind the development of this app is to aid prudent money management and stay protected against rainy days.      

Navigate the World of Finance easily with Fincover App Loaded with AI and MACHINE LEARNING

Fincover app encompasses all the best financial products to keep you financially protected. It would include an option to purchase insurance policies (health, life, motor, and travel), lending options (Loans, credit cards), and investment options (SIP, Mutual Funds, and other schemes). 

Naresh Rajaram, co-founder of FinFortune financial services pvt ltd, who is also the head of Technical operations, says “We are truly living in the golden age of technology. Our goal is to build a tool that is scalable and seamlessly switches between various facets of finance to ensure complete protection and safety. The state-of-the-art algorithms used find and rank Financial products that best suit the customer’s requirements without bias and we assist them to make quick and hassle-free purchases".

He further adds “Because the information available on finance is so vast and cluttered, people find it hard to access; we have made all these products easy to access by making them available on a single platform- our mobile application. That said, the two tenets of the Fincover app are learning and executing. It offers bite-sized learning lessons on each financial product giving you product knowledge with which you can take informed decisions. We have leveraged AI and machine learning technologies to incorporate image recognition, automated onboarding, easy KYC verification, identifying frauds and eliminating human bias"

GuruMoorthy A, Co-Founder of Finfortune added" It’s been a wonderful journey as a company for Finfortune in these two years. We are on a strong growth path growing at the rate of 2x in terms of users and loan disbursal rate. It’s time for us to switch gears, and accelerate and we are planning to do so with the launch of our Fincover app. The UI/UX would be clean and bright, and we’d promise that the whole app experience would be a breeze"

Talking about expanding operations and heavy competition in this ecosystem, Gurumoorthy added “We also are aggressively hiring lateral talents for Business Development and operations. These talents will contribute to the firm’s strategic growth and play an important role in shaping its growth landscape. Join us on this exciting journey as we are about to revolutionize the financial ecosystem in India with the launch of our Fincover app". 

About FinFortune financial Services Company

Finfotune is a fintech company based in Chennai. We have partnered with India's leading banks, NBFCs, fund houses and other financial institutions to distribute their products like Loans, mutual funds, banking products, and other investment schemes. 

Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same. 

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Published: 06 Sep 2023, 06:03 PM IST
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