Debt financing
Lender to the underprivileged FincFriends raises Rs.98.5 Cr
Gurugram-based NBFC (non-banking financial company) FincFriends has raised INR 98.5 crore in debt. Through the issue of non-convertible debentures (NCDs) the firm raised INR 44 crore, with participation from IBL Finance, Incred Financial Services, Real Touch Finance, Shine Star Build-Cap, and Western Capital Advisors. The rest, INR 55 crore, was raised from NBFCs.The fresh funding will be used by the company to introduce new credit offerings for underserved borrowers and expand its operations.Founded in 2017, FincFriends provides unsecured consumer lending products to the largely underserved segments of the society.
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