Fixed-income investment startup Dexif raises $4M from RTP Global

Fixed-income investment startup Dexif has raised $4 million in its first institutional funding round from early-stage venture fund RTP Global. 

The Noida-headquartered fintech startup operates a marketplace for fixed-income securities, connecting companies and financial institutions looking to raise debt and investors.

Deepank Bhandari, founder and CEO of Dexif, highlighted the firm's focus, saying, “Primarily, we are working on the financial institutions’ side, which are NBFCs that are in the business of raising capital.”

Enhancing technology and expanding operations

With the new funds, Dexif plans to scale up its technology platform, attract top talent, and expand its business operations. The startup aims to increase the availability of fixed-income assets to meet the demands of a growing market.

Bhandari outlined the company's strategy for growth, stating, "We're deeply appreciative of RTP Global's belief in our mission from day one. Their early and ongoing support has been instrumental in propelling us to where we stand today."

Addressing market needs in fixed-income securities

Dexif’s products span a risk spectrum from BBB- to sovereign-rated securities. By facilitating investments totalling about Rs 300 crore per month, Dexif is actively contributing to the expansion of India's bond market, which is worth approximately $2.2 trillion.

Nishit Garg, partner on RTP Global’s Asia investment team, commented on the market dynamics, “The fixed income market, while actively traded, often faces challenges related to price discovery, accessibility for all investors, and transparency. Technology-driven ecosystems like Dexif can provide critical solutions to these issues.”

Who are the founders?

Founded by Deepank Bhandari and Tushar Sharma in November 2022, with Pallavi Bajaj joining as a co-founder in October 2023, Dexif has built a robust team.

Prior to founding Dexif, Bhandari was vice president of supply chain at Blinkit, and the team now includes senior hires from notable financial institutions.

The startup projects significant growth potential for the Indian bond market, expecting it to possibly triple by 2030 to an 80% debt-to-GDP ratio. India's current low debt-to-GDP ratio compared to other major economies supports the optimistic outlook, providing substantial room for growth and enhancing the attractiveness of fixed-income investments.