Fundraising & Investments
Complete funding history, due diligence, and disbursement tracking — FinPilot Technologies Pvt. Ltd.
Series B fundraise targeted for Q2 2025 (₹100 Crore target). Preparation in progress — prospecting stage.
Funding Overview
Total raised: ₹57.7 Crores across 4 rounds
Angel Round
Angel
₹1.2 Cr
Mar 2021
Pre-money
₹5 Cr
Post-money
₹6.2 Cr
Lead
3 Angel Investors
CCD
Closed
Pre-seed
Pre-seed
₹3.5 Cr
Sep 2021
Pre-money
₹12 Cr
Post-money
₹15.5 Cr
Lead
Blume Ventures
CCPS
Closed
Seed Round
Seed
₹8.0 Cr
Jun 2022
Pre-money
₹28 Cr
Post-money
₹36 Cr
Lead
Sequoia Surge
CCPS
Closed
Series A
Series A
₹45.0 Cr
Jan 2024
Pre-money
₹120 Cr
Post-money
₹165 Cr
Lead
Sequoia Surge
CCPS
Closed
Due Diligence — Series A (Completed)
Series A Due Diligence: 17/20 items verified ✓ — 3 pending legacy documents (FY21 Financials, HR Policy, ESOP Trust Deed) waived by investor as pre-conditions.
| Category | Item | Status | Document | Notes |
|---|---|---|---|---|
| Legal | ||||
| Legal | Certificate of Incorporation | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Legal | Shareholder Agreement (v3) | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Legal | IP Assignment Agreements (3 founders) | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Legal | No pending litigation declaration | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Financial | ||||
| Financial | Audited Financials FY 2022-23 | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Financial | Audited Financials FY 2021-22 | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Financial | MIS Reports (Jan-Dec 2023) | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Financial | Bank Statements (6 months) | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Financial | Cap Table (fully diluted) | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Technical | ||||
| Technical | System Architecture Document | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Technical | Security Audit Report (Oct 2023) | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Technical | Data Privacy & GDPR Compliance | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Team | ||||
| Team | Founder background verification | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Team | Key employee agreements (Top 10) | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Compliance | ||||
| Compliance | GST compliance (24 months) | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Compliance | MCA filing compliance | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Compliance | FEMA/FDI compliance | Verified | ✓ Uploaded | Verified by Sequoia Surge DD team |
| Compliance | FY 2020-21 Audited Financials | Pending (Waived) | Not available | Legacy document — investor waived |
| Compliance | HR Policy Document v2 | Pending (Waived) | Not available | Legacy document — investor waived |
| Compliance | ESOP Trust Deed | Pending (Waived) | Not available | Legacy document — investor waived |
Disbursement Tracker — Series A
Total: ₹45 Crores in 2 tranches
| Tranche | Amount | Date | Milestone | Status | Reference | Bank Confirmation |
|---|---|---|---|---|---|---|
| Tranche 1 | ₹25 Crores | Jan 22, 2024 | On closing | Disbursed | NEFT-2024-JAN-001 | ✓ Confirmed |
| Tranche 2 | ₹20 Crores | Apr 18, 2024 | 80 enterprise customers achieved (May 28) | Disbursed | NEFT-2024-APR-003 | ✓ Confirmed |
Closing Conditions — Series A
8/8 Satisfied
| Condition | Type | Status | Date Satisfied |
|---|---|---|---|
| Board approval for allotment | Pre-closing | Satisfied | Jan 15, 2024 |
| DPIIT recognition valid | Pre-closing | Satisfied | Jan 10, 2024 |
| SHA executed by all parties | Pre-closing | Satisfied | Jan 14, 2024 |
| No MAC (Material Adverse Change) declaration | Pre-closing | Satisfied | Jan 14, 2024 |
| FEMA FC-GPR filing | Post-closing | Satisfied | Oct 12, 2024 |
| Auditor appointment (Big 4) | Post-closing | Satisfied | Feb 1, 2024 |
| Board constitution per SHA (5 members) | Post-closing | Satisfied | Mar 1, 2024 |
| Insurance (D&O) policy | Post-closing | Satisfied | Mar 15, 2024 |
Series B Pipeline
In Progress
Round Status
Prospecting
Target Raise
₹100 Crores
Timeline
Q2 2025 (Jun 2025)
Lead Investor
TBD — in discussions
Investment Bank
Shortlisting
Fundraising Progress
Prospecting
10%
✓ Internal readiness assessment complete
✓ Series B pitch deck drafted
⟳ Investment bank shortlisting (in progress)
○ Investor outreach
○ Term sheet negotiation
○ Due diligence & closing