FinX aims to address India’s job-readiness gap by skilling graduates and providing job opportunities in the BFSI industry, focusing on Tier-2 and Tier-3 cities. It also plans to extend its employability solutions to the IT industry.
Mumbai, 12th December, 2024: FinX, an integrated skilling platform dedicated to bridging the gap between formal education and employability in India’s BFSI (Banking, Financial Services, and Insurance) sector, has raised USD 6 million in seed funding from Elevar Equity.
India’s education sector faces a pressing challenge in preparing graduates for the demands of the job market. According to recent reports, over 50% of Indian graduates are considered unemployable due to a lack of practical skills and industry-specific knowledge (India Skills Report 2024).
The evolving job market is increasingly demanding candidates with specialised skills where opportunities are expanding but skilled talent remains scarce. FinX addresses these challenges through its platform by offering job-readiness vocational courses, industry-recognised certifications, regulatory compliance training, and job-assured programmes, all with 100% placement assistance. By bridging this skills gap, FinX helps prepare a workforce that meets the dynamic needs of the BFSI industry, unlocking economic opportunities and driving financial inclusion.
FinX’s mission is aligned with India’s dynamic regulatory landscape and the nation’s vision to enhance employability and financial literacy at scale. With regulations driving emphasis on vocational education and industry focused skills aligned with college curriculum, FinX addresses critical gaps in the ecosystem.
This funding will enable FinX to expand its geographical reach, broaden its product offerings, and diversify into IT skill training. In addition to this, it will also help in enhancing its technology platform in creating scalable solutions that meet the growing demand for skilled talent across various sectors. While the company is currently focused on skilling and training talent for the BFSI sector, it plans to extend its employability solutions to the IT industry. Furthermore, FinX plans to strengthen it’s capabilities via strategic acquisitions of skilling and training firms in the finance and technology space.
Commenting on the investment, Himanshu Vyapak, Founder and CEO of FinX, said, “FinX was born out of the need to address one of India’s most pressing challenges : employability. By shifting the focus of education toward practical skills, our goal is to enable graduates to become industry-ready professionals. This funding from Elevar Equity will enable us to expand our footprint, deepen our impact in Tier-2 and Tier-3 cities, and strengthen the skilling ecosystem for colleges and corporates. We are thrilled to partner with Elevar Equity, whose commitment to creating meaningful social impact aligns perfectly with our vision.”
Sandeep Farias, Founder and Managing Partner, Elevar Equity, said, “Education is not just an individual aspiration for underserved Entrepreneurial Households, it directly impacts their employability, the economic well-being of their families, and their ability to climb the social ladder. We are thrilled to back FinX in its mission to enhance employability and drive economic empowerment for Entrepreneurial Households. Himanshu and the team bring a rare blend of vision, inclusivity, and execution expertise to scale this impactful model.”
