Debt financing
Digital lender True Balance secures $10-M from Northern Arc Capital
Gurugram-based True Balance (Balancehero India Pvt Ltd) has raised USD 10 million in debt from Northern Arc Capital, with participation from other investors.Founded in 2014, True Balance operates as the India-arm of South Korea-based Balancehero. It offers digital financial services, including bill payments, recharge, and lending products, primarily to underbanked and new-to-credit users in India, specifically targeting borrowers without credit scores.The fresh funding will be used to expand True Credits' lending operations and introduce additional loan products in the Indian market.
Between Mar-16 and Oct-24, True Balance had attracted about USD 128 M from SoftBank Corp., VentureSoul Partners, and others.For FY25, True Balance had reported about INR 203.47 Cr in Operating Income and about INR 78.20 Cr in PAT.
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