Debt financing
NBFC FincFriends secures Rs.42-Cr from existing investors
Gurugram-based non-banking financial company (NBFC) FincFriends has raised INR 41.5 crore in debt from existing investors to grow its presence in smaller cities and towns. The round saw participation from IBL Finance, Moneywise Financial Services, Usha Financial Services, Shine Star Build Cap, Realtouch Finance, and UC Inclusive Credit.The round follows the company’s INR 98.5 crore (USD 11.2 million) debt raise in the fourth quarter of the previous fiscal year.Founded in 2017, FincFriends operates the RupeeRedee platform, which offers unsecured loans through a digital process. The company is targeting Tier II and Tier III markets, aiming to reach borrowers typically underserved by traditional financial institutions.
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