Fintech Platform True Balance Secures USD 10 Mn Debt Investment
The funds will be used to support the growth of the company’s lending arm, True Credits Pvt Ltd, and to introduce new loan products in the Indian market.
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Fintech platform True Balance has secured USD 10 million in debt funding from a group of investors, including Northern Arc Capital.
The funds will be used to support the growth of the company’s lending arm, True Credits Pvt Ltd, and to introduce new loan products in the Indian market.
Founded in 2014, True Balance focuses on offering financial services to underbanked and new-to-credit users in India. The platform provides a range of services including cash loans, level-up loans, EMI options, pay-later services, utility bill payments, and mobile recharge services.
Through its non-banking financial company (NBFC) arm, True Credits Pvt Ltd, the company has disbursed more than USD 30 million in loans during the current financial year. The new funding is expected to help expand its lending operations and reach more customers.
True Balance is operated by Balancehero India, the Indian subsidiary of South Korea-based Balancehero. The company provides digital financial services such as bill payments, recharge services, and lending products through its platform.
So far, True Balance has raised about USD 150 million through a mix of equity and debt funding. Its previous funding round of USD 28 million was led by SoftBank and Daesung Private Equity nearly three years ago.
Fintech platform True Balance has secured USD 10 million in debt funding from a group of investors, including Northern Arc Capital.
The funds will be used to support the growth of the company’s lending arm, True Credits Pvt Ltd, and to introduce new loan products in the Indian market.
Founded in 2014, True Balance focuses on offering financial services to underbanked and new-to-credit users in India. The platform provides a range of services including cash loans, level-up loans, EMI options, pay-later services, utility bill payments, and mobile recharge services.
Through its non-banking financial company (NBFC) arm, True Credits Pvt Ltd, the company has disbursed more than USD 30 million in loans during the current financial year. The new funding is expected to help expand its lending operations and reach more customers.
True Balance is operated by Balancehero India, the Indian subsidiary of South Korea-based Balancehero. The company provides digital financial services such as bill payments, recharge services, and lending products through its platform.
So far, True Balance has raised about USD 150 million through a mix of equity and debt funding. Its previous funding round of USD 28 million was led by SoftBank and Daesung Private Equity nearly three years ago.
