New Delhi, May 23,2024:  Fintech platform ProsParity on Thursday said that it raised $2 million in a pre-seed funding round from global institutional investors such as BEENEXT, Sparrow Capital, All In Capital, DeVC, and Huddle Ventures.

Other investors such as Dr Ashish Gupta (Co-founder of Junglee & Helion Ventures), Raj Dugar (Ex-Eight Roads Ventures), Dhyanesh Shah (Co-founder of Mosaic Wellness), Abhishek Goyal (Co-founder of Tracxn) and Nitin Kaushal (Co-founder of Country Delight) also participated in this round.

“ProsParity’s technology platform and omni channel presence coupled with our experienced team and lender network will help evolve and grow the nascent EV financing landscape in India,” Saurabh Khodke, CEO and Co-founder of ProsParity, said in a statement.

According to the company, the funds raised will be used for building proof of concept, technology, and expanding origination networks, starting with Central India.

“The founding team’s mission focusses, in the long-term, on creating a level playing field between EVs and ICE vehicles by democratising access to finance for not just customers, but also the dealers,” said Anirudh Garg, Partner at BEENEXT.

ProsParity is also building a comprehensive partnership network across Original Equipment Manufacturers (OEMs), Fleet Operators, Dealerships, and Lenders.