Bajaj Finance Takes 5% Stake in AI Video Startup TrueFan AI

Bajaj Finance has purchased a 5% stake in the AI video generation startup TrueFan AI. The non-banking financial company (NBFC), part of Bajaj Finserv, did not disclose the monetary value of the investment.

This move is part of Bajaj Finserv's strategic Finserv Intelligence initiative, which aims to develop and support high-tech, scalable solutions built in India for both domestic and global markets. The investment follows a period where Bajaj Finance was already a large-scale customer of TrueFan AI's platform.

An Existing Partnership Scales Up

Bajaj Finance has been using TrueFan AI's technology to generate millions of personalised videos for customer engagement and dealer enablement programs. Rajeev Jain, vice chairman and managing director of Bajaj Finance, stated that the investment followed this sustained, production-scale use. "Our investment in TrueFan AI follows sustained, production-scale use of its technology, giving us first-hand experience of the platform’s capabilities and its execution," Jain said.

The financial firm plans to use TrueFan AI's video skills to augment its marketing, multilingual communications, and employee training and onboarding processes. The partnership aligns with Bajaj Finance's broader strategy of deploying AI-led automation and personalisation across its digital ecosystem.

TrueFan AI's Funding and Focus

The investment from Bajaj Finance comes months after TrueFan AI raised $10 million in a Series A funding round. That round was led by Baring Private Equity Partners India and Z3Partners, with participation from IAN Alpha Fund and 3Lines Venture Capital. Prior to the Bajaj Finance deal, the startup had raised close to $15 million in total.

Founded in 2020 by Nimish Goel and Devender Bindal, TrueFan AI initially operated as a celebrity engagement platform before pivoting to enterprise AI in 2024. The Delhi NCR-based company now helps businesses create personalised videos using AI avatars and celebrities. It claims to serve over 100 enterprise clients across sectors like finance, healthcare, consumer goods, and media, including names such as HDFC Bank, Cipla, BharatPe, and Goibibo.

The startup is also developing real-time AI video agents for customer support, sales, onboarding, and product discovery. TrueFan AI states it has more than 110 employees and that its infrastructure can generate a high volume of videos per minute.

Bajaj Finserv's Broader Startup Strategy

The stake acquisition marks an expansion of Bajaj Finserv's efforts to back technology startups through its Finserv Intelligence initiative. In March, the group announced plans to invest up to ₹2,000 crore over five years in startups and early-stage companies, with focus areas including AI, cybersecurity, quantum technologies, fintech, and consumer technology.

Finserv Intelligence operates through investments, academic partnerships, and in-house research, with plans for R&D labs and centres of excellence. Bajaj Finserv has also partnered with IIT Bombay to establish a joint research centre focused on AI, cybersecurity, and quantum technologies.

Earlier this year, chairman Sanjiv Bajaj said the group planned to invest ₹400 crore to ₹450 crore in AI-focused ventures in the 2027 financial year through a combination of an AI-focused fund and its balance sheet. This push coincides with projections that India's AI market could reach $126 billion by 2030.