Funding Alert

Fintech Startup Credit Fair Raises USD 15 MN In Seed Funding

• ByStartupStory     |    July 15, 2021

Credit Fair, a consumer lending fintech startup, has raised USD 15 million as part of a seed funding round led by angel investors Anand Ladsariya and Alok Agarwal of Striver Capital Advisors. “Credit Fair will leverage the capital infusion to augment its technology team, enhance underwriting models and expand into tier II and III cities to scale its assets under management (AUM),” a statement said. Credit Fair was established in 2018, the B2B2C lending focused fintech startup offers lending solutions to both businesses and private individuals. The ticket size ranges from Rs 10,000 to Rs 20 lakh and tenure from three months to three years. Credit Fair is a financial partner for over 1,000 merchants including brands like Design Cafe, Asian Paints, Arrivae, upGrad, Nova IVF, Hero Electric and Ampere by Greaves among others.

Aditya Damani, founder of Credit Fair, said “the venture aims to financially empower Indians from remote areas or those without a credit score, who traditionally comprise some of the most unbanked and underserved segments across the country.” “To this end, we are extending credit across key sectors that are crucial for improving India’s social infrastructure especially in these COVID times… We will utilise the funding to accelerate our advance towards creating a financially inclusive future for Bharat,” he further added.

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