True Balance, a digital fintech platform, has secured $10 million in debt financing to support the expansion of its lending operations in India. The funding was raised from a consortium of investors, including Northern Arc Capital.
Capital to Expand Loan Offerings
The newly raised capital will be channelled toward strengthening the lending activities of True Credits Pvt Ltd, the platform’s non-banking financial company (NBFC) arm. The funds will also help the company introduce additional loan products designed for Indian borrowers.
Founded in 2014, True Balance has focused on delivering financial services to individuals who are underserved by the traditional banking system, particularly users who are new to formal credit.
Through its lending arm, the company has already disbursed more than $30 million in loans during the current financial year, reflecting growing demand for digital credit solutions.
Platform and Parent Company
True Balance is operated by Balancehero India, the Indian subsidiary of South Korea–based fintech firm Balancehero Co., Ltd.. The platform offers a range of digital financial services, including bill payments, mobile recharges and personal loans.
Since its launch, the company has raised around $150 million through multiple equity and debt funding rounds. Among its notable funding events was a $28 million investment round backed by SoftBank and Daesung Private Equity. The latest debt raise comes nearly three years after its previous funding round.
Focus on Financial Inclusion
True Balance’s lending platform primarily targets customers who have limited access to traditional banking services and often lack formal credit histories or credit scores. By focusing on this segment, the company aims to improve financial inclusion and provide accessible credit options to underserved users.
The latest debt funding is expected to help the company expand its reach across India while developing more tailored loan products for its growing user base.
Summary:
True Balance has raised $10 million in debt funding from investors including Northern Arc Capital to expand the lending operations of its NBFC arm, True Credits. The fintech platform plans to introduce new loan products and strengthen its focus on serving underbanked and new-to-credit users across India.
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