In Q4 of FY25, FincFriends, a non-banking financial company (NBFC), obtained debt funding totalling Rs 98.5 crore ($11.5 million). NBFCs contributed Rs 54.5 crore to the funding round, while non-convertible debentures (NCDs) contributed Rs 44 crore. Investors including Shine Star Build-Cap, Real Touch Finance, Incred Financial Services, IBL Finance, and Western Capital Advisors Private Limited participated.
According to a press release from FincFriends, this funding will help the organization expand its operations and reach while launching new personal credit products that are specifically designed for underserved borrowers who have little access to official financial services.
According to FincFriends, RupeeRedee is essential to expanding credit availability and building an ecosystem that is financially inclusive. It keeps closing the credit gap for marginalized groups with cutting-edge technology and insights gleaned from data.
Additionally, it intends to scale digital innovation in the lending ecosystem and empower borrowers with the financial growth of its lending partner FincFriends.
“This funding marks a strategic milestone in our journey to enable accessibility of responsible credit across India. With the valuable trust of our investors, we are positioning our brand to deepen our reach, strengthen fintech infrastructure and develop personalised credit solutions to address the financial realities of underserved communities,” said Artem Andreev, CEO of FincFriends.
Established in 2017, FincFriends is committed to offering loans and financing solutions to final consumers via an entirely digital and safe procedure. Its main goal is to make sure people have easy access to cash so they can handle unforeseen expenses.
