Monday, July 15, 2024

GRAVITY Raises $1 Mn in Pre-Series A Funding: Pioneering the Future of Personalized Banking


GRAVITY Secures $1 Mn in Pre-Series A Funding to Revolutionize Personalized Banking Experience

In a significant stride toward innovating the personalized banking experience, GRAVITY, a pioneering hyper-personalized banking tech platform, has successfully closed a $1 million pre-series A investment. This funding round was prominently led by Kettleborough VC, attracting support from leading figures in the banking sector alongside high-net-worth individuals (HNIs).

Based in Mumbai, GRAVITY was founded in March 2024 by innovative thinkers Satish Krishnaswamy and Rohit Maroo. The company emerged with a clear mission—to empower banks with the ability to offer a highly customized and tailored banking experience both to retail and enterprise customers. This recent infusion of funds is earmarked primarily for technological development and to bolster organic growth trajectories, indicating the company’s commitment to revolutionizing the banking sector.

The GRAVITY platform stands out by ensuring seamless interoperability among various banking software systems. This includes comprehensive management of core banking systems (CBS), payment systems, Loan Origination Systems (LOS), Loan Management Systems (LMS), treasury, depositories, and more. It opens up a realm of possibilities for banks, enabling them to concoct contextual and highly personalized products over their existing infrastructure, directly aligned with customer needs and eligibility criteria.

One of the critical advantages highlighted by GRAVITY includes its capability to streamline banking operations and enhance customer service efficiency remarkably. For instance, GRAVITY enables banks to reroute Immediate Payment Service (IMPS) transactions through National Electronic Funds Transfer (NEFT) seamlessly if the IMPS framework encounters downtime. Furthermore, the platform can identify customers experiencing transaction failures due to insufficient funds, offering instant loan options to rectify such issues on the fly.

Another significant utility of GRAVITY’s ecosystem is its agility in product and workflow introduction. Banks can leverage GRAVITY’s API symphony to roll out new products or streamline existing workflows within a remarkably short span—taking only 2-3 days, illustrating the platform’s robustness and flexibility.

This fundraising round marks a pivotal moment for GRAVITY as it sets its sights on empowering banks to redefine the banking experience through customized and efficient service delivery. With a visionary approach and solid support from financial industry stalwarts, GRAVITY is well on its way to setting new benchmarks in the banking technology landscape.

Alex Sterling
Alex Sterling
Alex Sterling is a seasoned journalist with over a decade of experience covering the dynamic world of business and finance. With a keen eye for detail and a passion for uncovering the stories behind the headlines, Alex has become a respected voice in the industry. Before joining our business blog, Alex reported for major financial news outlets, where they developed a reputation for insightful analysis and compelling storytelling. Alex's work is driven by a commitment to provide readers with the information they need to make informed decisions. Whether it's breaking down complex economic trends or highlighting emerging business opportunities, Alex's writing is accessible, informative, and always engaging.

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