Credit Fair raises $10M in extended Seed funding round led by LC Nueva Investment Partners
- ByStartupStory | August 3, 2022
Mumbai-based embedded credit fintech startup has announced that it raised $10 million in debt and equity as part of its seed extension round of funding.
LC Nueva Investment Partners, through its early-stage venture capital fund, LC Nueva Alternative Investment Fund, took the lead in the fresh investment round, which was launched as a result of continuous profitability and growth of 5X year over year (AIF). Along with previous investors Anand Ladsariya, Neeraj Goenka, and Alok Agarwal, the venture capital firm Capital A, Sattva Family Office, Nitesh Damani of the Khel Group, and Nikhil Chandra Gupta also participated in the round. Debt capital has been given by Caspian Impact, Vivriti Capital, and InCred Finance.
The embedded credit fintech startup said it will make use of this money to expand its platform, promote financial inclusion throughout India, create new technology, and enhance the shopping experience for customers (POS). The additional funds will also be used to develop Credit Fair Capital, its wealth tech platform.
Aditya Damani, Founder and CEO, Credit Fair said, “This round will strengthen our mission to extend credit to underserved Indians. The capital infusion and guidance from the marquee group of investors will help us accelerate our journey towards creating a financial inclusive future and effectively diversifying our financing solutions and services.”
Sohil Chand, Founding Partner and Chief Investment Officer for LC Nueva AIF, said, “The revival of economic activities after the pandemic-led disruptions has resurrected the consumer sentiment and reinvigorated the credit demand across business and consumer segments. The behavioural shift has also catalysed steady adoption of digital channels and omni-channel platforms to go for business or consumer finance solutions. We are delighted to collaborate with Credit Fair at this critical juncture and support their mission to deepen financial inclusivity by simplifying access to credit.”
About Credit Fair
Founded in 2018 by by Aditya Damani, Credit Fair provides tailored financing solutions to underserved company and consumer segments, Credit Fair seeks to promote financial inclusion. A million Indians will be assisted by the company in climbing the wealth and credit ladders. The company has successfully obtained the NBFC registration from the Reserve Bank of India.
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