Private Equity

Liquidity Events

IIFL Fintech Fund makes 5x returns from partial exit in credit infra platform FinBox

Entrepreneur  

IIFL Fintech Fund, an early-stage fintech-focused investment fund, made a partial exit from its investment in Bengaluru-based FinBox, a credit infrastructure and embedded finance platform, with a fivefold return on its initial investment.FinBox was founded in 2017 by Rajat Deshpande, Anant Deshpande, Srijan Nagar, and Nikhil Bhawsinka. It operates as a B2B (business-to-business) credit infrastructure provider, enabling enterprises, banks, and other financial institutions to offer digital lending and embedded financial services.This partial exit marks the third such event for the IIFL Fintech Fund in the past year. Previously, the fund completed a partial exit from Finarkein Analytics, yielding over 100% return, and exited TrustCheckr through its sale to Truecaller, securing an 80% annualised return.

Between Aug 2019 and Sep 2025, FinBox had attracted about USD 56 M from A91 Partners, Aditya Birla Ventures, WestBridge, Arali Ventures, Flipkart, 360 ONE, and others.