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).
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.
FinX plans to leverage it’s expertise of corporate trainings, repository of best in class content & pan India trainer network of industry experts to enhance skill-sets of aspiring students and young professionals. Our approach is to collaborate with universities & colleges to offer finance focussed vocational courses and joint Undergraduate / Post graduate degree programs. With a trainer platform that leverages over 1,200 empanelled trainers in 100+ locations, and an ExpertMFD initiative which supports creation of financial entrepreneurs. Backed by its subsidiary, CIEL, with 17 years of BFSI training expertise, FinX skills over 10,000 students every year in partnership with over 200 colleges. In addition, over 200,000 professionals have benefited from their certification and training programs, making it a leading player in capacity-building.
