MFIT

What MFIT does

MFIT Technologies Private Limited is an India-based fintech that builds an AI-powered platform for extracting, enriching, and consolidating data from complex financial documents used by wealth management firms. Founded in 2017 and headquartered in Hyderabad, the company applies proprietary machine learning models — trained on what it describes as millions of wealth management documents — to parse portfolio statements, mutual fund, PMS/hedge fund, contract note, AIF, insurance, and banking documents into structured holdings, transaction, and performance data, with a claimed 99.9% accuracy rate. Its product stack is organized around an Extraction Engine, an Enrichment Engine (Smart Masters for instrument identifier standardization), and an Analytics Engine (IRR, exit loads, taxes, asset class distribution), delivered via RESTful APIs and SDKs as well as Excel uploads, and complemented by the GAPSHEET sub-brand for independent advisors.

The company sells primarily to enterprise wealth management firms, fintechs, banks, and multi-family offices, with named customers including Waterfield Advisors, DWM (Anand Rathi), and Asset Vantage, the last anchoring a North American go-to-market. Revenue is generated through annual subscription contracts with usage-based components tied to document volume and enrichment/analytics services; pricing is quote-based and not publicly disclosed. Distribution is API-first and direct enterprise sales, supported by a developer documentation portal, while compliance (SOC 2 Type II) is positioned as a procurement enabler. The company is founder-owned and bootstrapped, with no disclosed external funding rounds and a 1–10 person team, suggesting a capital-light operating model despite claims of serving 40+ enterprise customers and processing 100M+ documents.

Name

MFIT

Legal name

MFIT Technologies Private Limited

Website

https://mfit.co.in

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

MFIT is an India-based, AI-powered fintech that parses and consolidates financial documents (portfolio statements, PMS, contract notes, AIFs) into structured data for enterprise wealth managers, banks, fintechs, and multi-family offices via a proprietary API platform.

Ownership category

akta.pro rank

Product category

Wealth Data Infrastructure

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Intelligent Document Processing (IDP) & OCR Automation (HDAEAHAC)

akta.pro secondary industries

Document Capture, Scanning, OCR/ICR & Intelligent Document Processing (IDP) (HDAEAGAD), LLMOps & Generative AI Platforms (Prompt/Agent Orchestration, RAG) (HDAEANAD)

Keywords

• Wealth data extraction
• Financial document parsing
• Portfolio analytics API
• Wealth management infrastructure
• Investment data enrichment

Headquarters

HQ city

Nizampet

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. API Data Extraction Services: Revenue generated from API-based document parsing and data extraction services. Provides real-time processing capabilities for portfolio statements, contract notes, and alternative asset documents. Charges likely based on document volume or subscription tiers.
2. Data Enrichment and Analytics: Additional revenue stream from data enrichment services including smart masters for standardization, IRR calculations, tax computations, and custom analytics.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

MFIT provides an AI-powered document parsing and data extraction platform that converts complex wealth management documents (mutual fund statements, PMS reports, contract notes, AIFs, insurance, and banking statements) into structured, actionable data. The platform is delivered via RESTful APIs and includes data enrichment, multi-source consolidation, and analytics (IRR, exit loads, taxes, asset class distribution) for enterprise wealth management firms.

Product overview

MFIT is an AI-powered data extraction and analytics platform for wealth management, offering a unified solution for parsing portfolio statements, contract notes, and alternative investment documents. The core platform consists of Portfolio Statements Data Extraction (for holdings, positions, transactions, and performance data), Contract Notes & Alternative Assets parsing (for complex transaction histories, PE, hedge funds, and real estate), Real-Time Data Integration (API-first delivery), and Analytics capabilities (IRR calculations, exit loads, taxes). Supporting products include Smart Masters for investment instrument identification, Custom Web Development & Mobile Wealthtech Apps for client-facing solutions, GAPSHEET (a sub-brand for independent advisors), and the MFIT API for programmatic access to 500+ data sources with enrichment, consolidation, and analytics capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• GAPSHEET: Another product of MFIT which works with the independent advisor community.

Products and services

• Portfolio Statements Data Extraction
• Contract Notes & Alternative Assets Parsing Parses complex transaction histories, trade confirmations, private equity, hedge fund, and real estate documents. Automatically categorizes transactions and reconciles data across multiple sources for wealth managers and asset managers.
• MFIT API RESTful API that provides access to over 500 financial data sources with capabilities for transaction and holding data extraction, data enrichment with standardization, multi-source consolidation, and custom analytics including asset class distribution, IRRs, exit loads, and taxes. Includes a JavaScript SDK.
• Smart Masters — Identifiers AI-powered solution that identifies unique identifiers for any investment instrument and standardizes results, reducing operations hours in data standardization for wealth management firms.
• Analytics Add-on Generates decision parameters and insights including IRR calculations, old holding values, exit loads, and taxes for wealth management reporting and decision-making.
• Custom Web & Mobile Wealthtech App Development Custom client-facing web and mobile solutions for wealth management firms, enabling them to deliver modern technology experiences to their customers.
• GAPSHEET Complementary product from MFIT that works with the independent advisor community, providing portfolio and wealth management tools for individual financial advisors.

Quantifiable outcome

• 99.9% accuracy rate on document processing
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature5 records

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Plaid: Plaid is a dominant financial-data connectivity network aggregating bank, brokerage, and wealth account data. It is the broadest incumbent alternative to document-based extraction, addressing similar fintech and wealth-management data ingestion needs through API connectivity rather than MFIT's document-parsing approach.
• Orion (Black Diamond): Orion's Black Diamond wealth platform aggregates and consolidates portfolio data for advisors and family offices. Like Addepar, it is a broader incumbent competitor serving the same enterprise wealth management accounts that MFIT targets with its focused data-extraction offering.
• Yodlee (Envestnet): Yodlee is a major financial-data aggregation platform powering wealth, lending, and banking use cases. While it focuses more on account-level data feeds than document parsing, it competes for the same fintech and wealth-tech enterprise customers and offers alternative data integration approaches to MFIT.
• Addepar: Addepar is a leading wealth-management technology platform aggregating multi-asset portfolio data for advisors and family offices. While much broader than MFIT (full portfolio analytics, reporting, CRM), it overlaps directly on data ingestion and consolidation for the same enterprise buyer profile (multi-family offices, RIA platforms).
• Finicity (Mastercard): Finicity, now part of Mastercard, is a major open-banking and financial-data aggregation platform. It is a broad incumbent offering alternative API-first data integration for the same enterprise financial-services buyer base that MFIT approaches via document parsing.

Emerging players

• Affinda: Affinda provides AI document-parsing APIs for resumes, invoices, and financial documents, with developer-friendly integration similar to MFIT's REST API. It is an emerging IDP peer targeting financial-services workflows that overlap with MFIT's extraction offering.

Direct peers

• Infrrd: Infrrd is an AI-powered Intelligent Document Processing (IDP) vendor with proprietary ML models for extracting structured data from complex, unstructured documents. It competes with MFIT on the core IDP technology layer across financial and enterprise documents, though MFIT is specialised to wealth-management statements.
• Rossum: Rossum is an AI-driven document-processing platform that uses proprietary ML/OCR models to extract transactional data from business documents at scale. It is a direct technology peer to MFIT for IDP, though it generalises across industries whereas MFIT is verticalised to wealth management.

Regional players

• Decimal Technologies (Decimal Point Analytics): Decimal Technologies is an India-based fintech/wealth-tech services vendor with APIs and data solutions for financial institutions in the Indian market. It is a regional peer that overlaps with MFIT on Indian wealth-management data infrastructure and B2B distribution.
• Valuefy: Valuefy is a wealth-tech platform serving Indian wealth managers and family offices with portfolio analytics and aggregation. It is a regional Indian peer that addresses overlapping customer needs (multi-asset data consolidation, analytics) to MFIT.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/Aisha06952397/status/1313061450819104774?s=20
• YouTubeyoutube.com/channel/UCOd-ge69svygJHn-ntmjqCw?view_as=subscriber
• Facebookfacebook.com/Advise-clients-on-their-total-wealth-108859704313809
• Instagraminstagram.com/p/CFzSz6tnf6t/?utm_source=ig_web_copy_link
• LinkedInlinkedin.com/company/mfit-technologies-pvt-ltd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MFIT