Other Private Equity/Strategic Investments
Personal loans provider FincFriends raises $7.8-M
Digital lending platform RupeeRedee’s Bengaluru-headquartered captive non-banking financial company (NBFC) FincFriends has raised USD 7.8 million in its latest funding round. While USD 2 million was raised in equity funding, another USD 2.8 million was raised in the form of ECB (external commercial borrowing) from the company’s existing shareholders APV Management Pte Ltd. The remaining USD 3 million was raised in debt from InCred Finance and Grow Money Capital. The company will deploy the fresh funds towards increasing its customer base and amplifying its credit portfolio.The total amount raised by the company over the last financial year stands at USD 11.6 million in equity and USD 1.3 million in debt.Founded in 2017, FincFriends enables personal loans up to INR 30,000 through its digital lending platform. It has so far raised USD 13.6 million in equity, USD 3.5 million in ECB and USD 4.3 million in debt.
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