Synopsis
Sahamati, the NBFC-Account Aggregator body, has raised Rs 50 crore from major banks, asset management companies, stockbrokers, and fintechs. This funding will enhance the data sharing platform's infrastructure and participation. The investment supports the development of a robust framework for financial data management, placing consumers in control of their information.Among the large banks, State Bank of India, ICICI Bank, HDFC Bank, and Axis Bank have participated. Large non-banking lenders include Aditya Birla, Bajaj Finserv, and DMI Finance. Zerodha, Dhan, Angel One and IndMoney are the major stockbrokers and fintechs that have participated.
ET had written about the deal on April 14, noting that the investors have picked up stakes between 2% and 8%.
In a statement, the not-for-profit body, which is based in Bengaluru, said that by bringing together major financial services names, the AA platform will move towards collective ownership, governance, interoperability and standards.
“Sahamati will deploy this capital to deepen ecosystem participation, strengthen technical and policy frameworks, and build institutional capacity for scale,” the non-profit said in a statement.
Sahamati manages the RBI-regulated NBFC-AA ecosystem, which runs a data sharing infrastructure between FIPs (financial information providers) and FIUs (financial information users). The financial data gets used in credit underwriting, loan collection, customer assessment and even fraud checks.
“The Account Aggregator framework is not just an infrastructure layer. It enables a fundamentally new way of designing financial products and experiences, with consumers firmly at the centre and in control of their data,” said Sahamati chief executive officer BG Mahesh.
ET had reported in its previous piece that the strategic investments from each of these financial services companies in Sahamati have taken place in the context of the Reserve Bank of India planning a self-regulatory organisation (SRO) for the AA ecosystem. The RBI had put out the draft guidelines for the SRO in the AA space in March last year.
As per filings with the Ministry of Corporate Affairs, Sahamati reported a total revenue of Rs 15 crore in FY25 and a net surplus of Rs 1.1 crore. Given that it is a not-for-profit body, Sahamati does not record profits, but reports a business surplus.
