Digital lender Credit Fair raises Rs.15-Cr from SBI

Mumbai-based Digital lender Credit Fair has raised INR 15 crore in debt funding from the State Bank of India in a bid to grow its platform and create new products. Founded in 2018 by Aditya Damani, Credit Fair offers unsecured loans to residents and businesses of lower-tier towns at points-of-sales. It claims to have 5,000 active merchant partners, disbursing loans worth INR 10,000 to INR 50 lakh. The startup had earlier raised INR 2.5 crore from investors including LC Nueva Alternative Investment Fund, and Capital A.