Credit Fair

Key Highlights:

  • Fintech startup Credit Fair has raised $10 Mn funding in its seed round, which is a mix of debt and equity rounds.
  • It’s a B2B and B2C lending fintech startup that offers customised low-cost lending solutions and unsecured loans to businesses and consumers.
  • Aye Finance, ARTH, and ZestMoney are among its competitors in the fintech lending space.

Fintech startup Credit Fair has raised $10 Mn funding in its seed round, which is a mix of debt and equity rounds. LC Nueva’s fund–LC Nueva AIF was leading this round.

Capital A, Sattva Family Office, Nitesh Damani of Khel Group and Nikhil Chandra Gupta and existing investors–Anand Ladsariya, Neeraj Goenka and Alok Agarwal have participated in the equity round.InCred Finance, Vivriti Capital and Caspian Impact have participated in the debt funding round.

Credit Fair was founded in 2018 by Aditya Damani. It’s a B2B and B2C lending fintech startup that offers customised low-cost lending solutions and unsecured loans to businesses and consumers.

The startup plans to use these funds to develop technology and enhance customer experience at the POS. Even it will deploy funds to launch its wealth tech platform–Credit Fair Capital.

The founder and CEO of Credit Fair, Aditya Damani said, “We are super excited to have investors like LC Nueva AIF and Capital-A who will share our vision of deepening access to credit. Our plans to create a financially inclusive future and effectively diversify our financing solutions and services will be accelerated by the infusion of capital from marquee investors.”

Credit Fair has raised a total of $25 Mn to date, after this current fundraising.

It offers loans between INR 10K and INR 20 Lakh ranging from three months to three years.

In addition to onboarding 5,000 merchant partners, Credit Fair aims to offer financial inclusion to 550 million consumers. According to the statement, it also plans to achieve a run rate of $360 Mn per year.

The fintech startup claims to have partnered with more than 1000 merchants including upGrad, Nova IVF, Design Cafe, Asian Paints, Scaler, PristynCare, Hero Electric and Ampere by Greaves, and others.

Last year, Credit Fair secured $15 Mn in its seed funding round from Anand Ladsariya and Alok Agarwal.

Previously, in October 2020, It was a part of Village Capital’s accelerator programme, Finance Forward India 2020, which helps startups offer financial inclusion to Indian households and women.

Aye Finance, ARTH, and ZestMoney are among its competitors in the fintech lending space.

To get regular updates on funding new, visit Alphafirms.

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