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True Balance's NBFC arm raises $15-M from investors in Korea, India

MyBigPlunge  

True Credits, a Reserve Bank-licensed NBFC of True Balance, has raised USD 15 million (about INR 111.4 crore). With this, the total debt funding raised by the company stood at USD 25 million. The second round of investment has come from Pace and E-clear, as well as other investors in Korea, to support the company's expansion in India. True Balance app was launched in 2016 in India to help users to efficiently manage their phone recharge, bill payments and balance check. In 2019, True Credits received their licence from RBI, post which True Balance started the lending business. True Credits has disbursed loans worth over INR 300 crore in this calendar year.