- Navanc, India’s first AI-based real estate stack and rating system for secured loans and insurance, integrates advanced AI, IoT and blockchain for secure transactions.
- The funds will support expansion into Tier 1-4 cities and enhance its AI capabilities with generative AI and computer vision models.
- So far, Inflection Point Ventures has invested over INR 790 Cr in over 210 startups.
Navanc, a pioneering FinTech startup building India’s first AI-based real estate score and real estate stack for secured lending and insurance practices, successfully raised $1 million in a round start-up financing. The round was led by Prarambh Ventures, with participation from Inflection Point Ventures (IPV), Brigade REAP FirstPort Capital and renowned angel investors.
The funds will be dedicated to expanding operations across India, with a focus on strengthening Navance’s presence in urban and semi-urban areas. Additionally, the startup will strengthen its AI FinTech capabilities by incorporating generative AI and computer vision models to pursue its vision of becoming India’s leading home credit score and stack provider.
Navanc was founded by Nagachethan SM, CEO, and Byomkesh Jha, CTO and Data Officer, in 2021. With a strong background in technology and finance, Nagachethan leads Navanc’s vision and strategy, driving innovation in the BFSI segment. A seasoned data science professional, Byomkesh oversees Navanc’s technology and data science, ensuring seamless execution of its AI and technology goals.
Mr. Mitesh Shah, Co-Founder, Inflection Point Venturessaid: “Banks, NBFCs and HFCs all face the same mortgage and property valuation challenges: inconsistent and time-consuming property valuations, lacking both transparency and data to build trust. By providing accurate and scalable real estate valuation, transparency and reliability, Navanc helps everyone in the sector make informed decisions based on real-time valuation, data and knowledge of legal and technical aspects. Thereby reducing risk for lenders and buyers. As investors, we are confident in Navanc’s potential to make real estate valuation efficient, reliable and data-driven..”
Mr. Sreenivas Ramarao of Prarambh Venture is of the opinion: “We believe Navanc is the pioneer in providing AI and digital services to make real estate transactions faster, cheaper, reliable and more accurate. We also have great confidence in the team and are fully confident in their ability to deliver user-friendly products in the space..”
“The REAP Brigade has played a key role in refining and accelerating the growth of Navanc, which has demonstrated immense potential in revolutionizing property valuation through its innovative solutions. Navanc’s strengths lie in its ability to streamline financial access for properties by integrating AI, IoT and Blockchain for secure and transparent transactions, making it a transformative player in the PropTech sector. Our association with Navancé demonstrates our commitment to fostering innovation in the PropTech sector” commented Abhay Garg, the head of the REAP brigade.
Navanc stands out as India’s first FinTech startup to introduce AI-powered scoring and property stack, specifically designed for secured lending and insurance practices. By integrating advanced technologies such as AI, IoT and Blockchain, the company ensures secure, transparent and reliable transactions, thereby setting a new benchmark in the PropTech sector. Its comprehensive collateral reporting, powered by cutting-edge AI and ML models, significantly improves credit decision-making and portfolio management for the BFSI sector.
Nagachethan SM, CEO, Navance, said: “We are grateful for the support of our investors and are excited to continue our mission to revolutionize secured lending and insurance practices in India. Our AI-powered solutions are designed to make real estate transactions faster, more transparent and accessible to everyone..”
Currently operating across multiple city tiers in around 6 states, Navance is focused on expanding its reach to all states as part of its Bharat vision. This strategic move aims to drive financial inclusion across India, transforming home lending and insurance practices nationwide.
Since its inception in 2021, Navanc has developed a cutting-edge technology stack that streamlines secured lending, insurance and property aggregation practices in the BFSI sector. Its innovative solutions significantly reduce execution times, improve transparency and facilitate better credit decision-making and portfolio management. The Indian home loan market is poised for exponential growth, with rapidly increasing demand for digital and AI-based solutions to facilitate secure transactions.
About Navac
Navanc, founded in 2021 by Nagachethan SM and Byomkesh Jha, is a FinTech innovator developing AI-based solutions for secured lending and property aggregation in the BFSI sector. With a focus on building India’s first home loan score and stack, Navance is transforming the way financial institutions assess and manage collateral.