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True Balance Raises $30 Million In Debt For Financial Arm

True Balance Raises $30 Million In Debt For Financial Arm

11/23/21, 10:38 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/IN.svgdelhi
Money raised
$30 million
New Delhi: True Credits - the NBFC and an affiliate of an RBI-authorised lending company True Balance - on Tuesday announced a debt fundraise of $30 million (about Rs 223.2 crore) from investors, including Northern Arc, Arthmate, Shine Star and others. With this, the total debt fund raised stood at $55 million in FY2021, a statement said.

Company Info

Company
True Credits
Location
delhi, delhi, india
Additional Info
The fintech company has disbursed loans over Rs 600 crore in this calendar year through its licensed NBFC subsidiary - True Credits. The company intends to cater to customers within the monthly income bracket of Rs 10,000 to Rs 40,000. The company, which is logging 30-50% month-on-month growth, aims to achieve break-even before the end of this financial year.