IIFL Fintech closes Rs.500-Cr second fund

IIFL Fintech Fund , backed by financial services conglomerate IIFL Group, has achieved the final close of its second fund after raising INR 500 crore from domestic family offices and wealthy individuals.The Series II fund targets early- to growth-stage fintech startups, with a focus on companies using GenAI to build financial services products. The fund plans to invest in 20 to 25 startups across lending, payments, compliance, wealthtech, insurtech and embedded finance.