<article>Matrix Partners India has invested an undisclosed amount in fintech startup <a style="color: #000080;" href="https://finomena.com/" target="_blank">Finomena</a>, the company said on Tuesday.</article>

Matrix Partners India has invested an undisclosed amount in fintech startup <a style="color: #000080;" href="https://finomena.com/" target="_blank">Finomena</a>, the company said on Tuesday.
Angels and entrepreneurs like Kaushal Aggarwal, MD and co-founder of <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Avendus">Avendus</a>, Harshvardhan Chamria from <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Magma+Fincorp+Ltd">Magma Fincorp Ltd</a> and others unnamed investors also participated in the round.
The investment comes within a fortnight of Matrix <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/matrix-partners-leads-5m-series-a-round-in-ofbusiness-32044/" target="_blank">invest</a>ing $5 million in Series A round for <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=OfBusiness">OfBusiness</a>, an online marketplace for business to business (B2B) commerce, along with others.
&#8220;Fin-tech is a focus area for Matrix and we will make multiple investments in the space,” said Vikram Vaidyanathan, MD, Matrix India.
&#8220;True financial inclusion will only come by use of mobile technology at mass scale. We believe we can use the power of machine learning algorithms and the digital footprint being created by each person today to evaluate their credit risk more holistically, thereby creating a win-win situation for the entire ecosystem,” said Abhishek Garg, co-founder of Finomena.
Founded by a team of IIT and Stanford graduates Finomena is a financial platform, uses alternate data sources and proprietary algorithms which enables customers to buy goods online through easy installments or financing options.
Matrix Partners India, an investment firm with Rs 4,000 crore assets under management (AUM), provides seed and early-growth stages capital in mobile internet companies.
Some of its others investments include companies like <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Dailyhunt">Dailyhunt</a>, mobile local language platform; <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Housejoy">Housejoy</a>, local services marketplace; <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=LimeRoad">LimeRoad</a>, mobile social commerce marketplace; <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=MSwipe" target="_blank">MSwipe</a>, mobile POS; <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Ola" target="_blank">Ola</a>,local transportation marketplace; <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Practo" target="_blank">Practo</a>, healthcare app among others.
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Matrix Partners India has invested an undisclosed amount in fintech startup Finomena, the company said on Tuesday.

India: Matrix Partners, others invest in fintech startup Finomena

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India: Matrix Partners, others invest in fintech startup Finomena

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