Debt

Debt Financing

Micro-lender SmartCoin raises Rs.80-Cr from Northern Arc, Vivriti, others

Inc42  

Bengaluru-based fintech startup SmartCoin Financials has raised INR 80 crore in debt from Northern Arc, Vivriti Capital, MAS and India SME, among others. It will use the funds to increase its portfolio by 10 times with expansion in customized products and services. The company also plans to boost its small businesses market, and grow middle and lower-income users, with expanded credit products through its mobile app. Founded in 2016 by Rohit Garg, Amit Chandel, Vinay Kumar Singh, and Jayant Upadhyay, SmartCoin aims to address the credit needs of self-employed micro-entrepreneurs, micro-merchants along middle and lower income earners through its app.