Finstack
Entrepreneur First '23Bangalore, IN · Founded 2023 · 19 employees on LinkedIn · 2 known investors
FinStack is a self-hosted, no-code loan origination system for banks, NBFCs, and DSAs (direct selling agents). The platform handles the underlying lending technology so financial institutions' sales, risk, growth, and compliance teams can build financial products without engineering dependencies.
Also known as FinStack · finstack.in
Founders & leadership
Finstack was founded in 2023 by Gaurav Agarwal and Dhawal Patel.
Investors · 2
Company profile
researched Aug 2026FinStack builds a no-code Loan Origination System (LOS) that financial institutions deploy on their own cloud or on-premise infrastructure. The platform lets lenders design borrower and internal-team forms, build borrower and user journeys with a visual journey builder, configure credit policies in a business rule engine (including simulation and back-testing), and set up roles, approval workflows and dashboards — all without engineering involvement. It covers multi-channel onboarding (self-serve, assisted and hybrid), KYC, underwriting, digital signatures and integration with core banking, loan management and CRM systems for disbursal.
A central element is an API marketplace that supports vendors across the Indian fintech ecosystem, covering KYC, KYB, GST, credit bureaus, Account Aggregator, e-signing and mandates; customers can buy APIs through FinStack or plug in their own, and swap them over time. The system also includes granular role-based access control with maker-checker flows, branch-level user hierarchies, third-party agency access (field inspection, legal, RCU), exception management, batch processing with customised reports, and white-labelled mobile-responsive web applications. For distribution, FinStack supports LSPs and DSAs: managing DSA and sub-DSA fleets, embedding loan products in partner apps, and co-lending or lead-sharing with other lenders.
The company positions the product against traditional LOS vendors on data residency (customer's own cloud rather than the vendor's), change turnaround (one day versus two to three weeks), open API vendor choice, and change requests included in the subscription. It states compliance orientation toward RBI regulations, including the RBI Master Direction on IT Governance, Risk, Controls and Assurance Practices, ISO 27001 standards, VAPT audits and disaster-recovery readiness.
Founding story
Co-founder and CEO Gaurav Agarwal previously built underwriting engines at Capital Float (now Axio, acquired by Amazon), which the company says disbursed over $100M in loans annually, and built the Bharat Bill Payment System (BBPS) at PhonePe. Co-founder and CTO Dhawal Patel built loan origination and management systems at Capital Float and SME lending systems in South East Asia at Funding Societies, and worked on credit card rewards and loyalty programs for SBI Aurum at Poshvine (acquired by Razorpay). The company states it was created to eliminate redundant engineering effort in building financial products, so that sales, risk, growth and compliance teams can operate without engineering dependencies.
Business model
Software vendor selling its LOS platform to lending institutions; the website refers to a subscription under which change requests are covered, and to APIs that can be purchased from FinStack or supplied by the customer, alongside platform setup and staff training.
Subscription-based platform licensing, with change requests included in the subscription and optional purchase of third-party APIs through FinStack's marketplace (per company website; no pricing disclosed).
Traction
The company reports serving 10+ financial institutions, $30M+ in cumulative loan amount disbursed through the platform, 150+ loans disbursed per day and 15+ integrated API vendors. Its flagship case study, Western Capital Advisors Pvt Ltd (Prabhaav Loans), launched home loan and loan-against-property products across 42 branches in 4 states with 400+ employees in under six months and disbursed INR 123.6 crore in the first year, with reported increases of 9.5x in monthly loan approval volume and 180% in monthly leads per relationship manager. Inc42 reports 18 employees and monthly web traffic of about 1,500 visits, down 76% over the prior 30 days.
Latest developments
The company website features a case study on Western Capital Advisors (Prabhaav Loans) and blog posts on its deployment architecture and compliance with RBI's Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices. No funding, acquisition or leadership-change events for this company appear in the sources.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Competes with traditional loan origination system vendors in India, differentiating on self-hosted deployment, no-code configuration and vendor-agnostic API integration. Public sourcing on the company is thin: Inc42 lists it as a private, bootstrapped Bengaluru fintech founded in 2022 with 18 employees, and no disclosed funding for this entity appears in the sources.
Per the company's own comparison, FinStack differs from traditional LOS providers by storing data entirely on the customer's cloud rather than the vendor's, offering RBAC that adapts to the customer's organisation, a one-day turnaround for changes versus two to three weeks, support for any API from any vendor rather than a limited vendor list, and change requests covered within the subscription rather than billed separately. Implementation is claimed at two to three weeks against three to six months for traditional systems.
Technology
Cloud-native, API-first architecture deployable on AWS, GCP, Azure, other clouds or on-premise, using either FinStack's cloud-native containers or the customer's managed services. Components include a form builder, visual journey builder, business rule engine with policy simulation and back-testing, an API marketplace spanning KYC, KYB, GST, bureaus, Account Aggregator, e-signing and mandates, RBAC with maker-checker controls, batch processing and reporting, and pre-built connectors to core banking systems. The company cites ISO 27001 standards, VAPT compliance, a 100% VAPT audit success rate, disaster-recovery readiness and 99.6% uptime.
Go-to-market
Direct enterprise sales to Indian lenders, supported by published customer case studies (e.g. Western Capital Advisors / Prabhaav Loans), blog content on architecture and RBI compliance, and a self-hosted deployment model with platform setup and staff training included. Distribution reach is extended through customers' LSP and DSA networks and embedded loan products in partner apps.
Banks, NBFCs, LSPs (loan service providers), DSAs (direct selling agents) and other lending institutions in India, ranging from small lenders to large banking institutions; the platform is also used by lenders' third-party agencies for field inspection, legal and RCU work.
Geography
India-focused: the product is built for the Indian market and RBI regulation, its API marketplace targets the Indian fintech ecosystem, and Inc42 places headquarters in Bengaluru. Customer deployments cited span 42 branches across 4 Indian states.
History
Inc42 records the Bengaluru-based fintech FinStack as founded in 2022 and bootstrapped, with an employee count of 18. The company's site describes an operating product with named bank and NBFC customers and a "Backed By" section on its about page, though the sources do not name investors for this entity.
Risks & controversies
The name "FinStack"/"Finstack" is shared by several unrelated companies — a UK/Coimbatore fintech infrastructure provider (efinstack.com), a European financial consolidation and reporting SaaS (finstack.io), and at least one AI-for-banking vendor — and aggregator profiles conflate them, so third-party funding, headcount and founder data attributed to "FinStack" are frequently about a different entity. Most quantitative claims about the Bengaluru company (disbursement volumes, uptime, audit results, customer outcomes) originate from the company's own website and are not independently verified in the sources. Inc42 also shows a 76% month-over-month decline in web traffic.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 1
launches, deals, and filingsFinStack states it helped Western Capital Advisors Pvt Ltd (Prabhaav Loans) launch retail Home Loan and Loan Against Property products across 42 branches in 4 states, supporting 400+ employees, in under six months; the customer disbursed INR 123.6 crore in the first year after launch.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Finstackfinstack.in · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Finstack do?
- Self-hosted, no-code loan origination system for Indian banks, NBFCs, LSPs and DSAs.
- Who founded Finstack?
- Finstack was founded by Gaurav Agarwal, Dhawal Patel in 2023.
- Who are Finstack's investors?
- Finstack's investors include Entrepreneur First, Transpose Platform Management.
- Where is Finstack headquartered?
- Finstack is headquartered in Bangalore, IN.