Fintech startup 50Fin has successfully closed a $550,000 funding round led by Arali Ventures and notable investor Nitin Gupta. This new capital infusion will be allocated towards expanding the company’s market reach and enhancing its technology offerings.
This recent investment follows a $500,000 funding round in 2023, which included contributions from 100X.VC, Arun Venkatachalam, and Keynote Fincorp. Since then, 50Fin reports a sixfold increase in its distribution capacity, reflecting significant growth and deeper market penetration.
50Fin is revolutionizing the financial industry with its innovative technology focused on the distribution of Loan Against Securities (LAS). The company has established key partnerships with prominent players like Fi Money and Bajaj Capital, to provide LAS solutions to a wide range of clients.
Aditya Srinivas Prasad, CEO of 50Fin, highlighted the company’s progress and strategic direction. “Over the last year, our distribution capacity has gone up 6X, and our products are now generating value across investor classes. We have also launched our B2B vertical, which allows banks and NBFCs to digitize LAS for their clients while completely automating the entire operation of the product. We remain committed to being the leading full-stack LAS provider in the market and are on track to reach profitability in the next 12–16 months,” said Prasad.
The funding round’s significance is also underscored by the insights from Arun Raghavan, Managing Partner at Arali Ventures. “MF ownership penetration in India has increased significantly over the past few years; however, the ability to leverage this asset is limited to a few HNI individuals today. We believe that this is a large market waiting to happen and believe that the team at 50Fin will go a long way in democratizing access to this product for the millions of MF holders in India,” Raghavan commented.
As 50Fin continues to grow, its focus on leveraging embedded technology aims to transform the landscape of lending against securities, ensuring accessibility and convenience for borrowers across different investor classes. The fresh funding will bolster 50Fin’s capabilities as it strives to lead innovation in the fintech sector.
