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Lending tech startup Finnable has raised INR 500 Cr ($56.5 Mn) in an equity funding round led by existing investors Z47 and TVS Capital.
The fresh capital will help the startup expand its product portfolio, strengthen its technology stack, and grow its customer base.
As per a report by ET, the startup had raised INR 250 Cr in the first tranche of the round in August and the second tranche of the round in November.
Founded in 2015 by Nitin Gupta, Viraj Tyagi and Amit Arora, Finnable is a personal loan platform offering quick, paperless loans ranging from INR 25,000 to INR 10 Lakh. It primarily serves mid-income salaried professionals earning between INR 15,000 and INR 50,000 per month.
“We’re now focused on serving over 1 Mn customers in the next four years and expanding our loan book to INR 10,000 Cr, continuing to drive social good at scale,” said cofounder and CEO Amit Arora.
The Bengaluru-based startup has seen a sharp uptick in its lending operations. As per a report by CareEdge Ratings, Finnable’s assets under management (AUM) stood at INR 2,924 Cr at the end of the June quarter. The entire portfolio comprises salaried borrowers, with an average loan ticket size of INR 2.5 Lakh, average tenure of 42 months, and a yield of 25%.
On the financial front, Finnable turned profitable in FY25, posting a net profit of INR 6.7 Cr against a net loss of INR 5.8 Cr in the previous year. Its total income surged 52% YoY to INR 278.5 Cr from INR 183 Cr.
Earlier this year, the startup raised INR 30.5 Cr in a Series B round led by TVS Capital and Malpani Group. In 2021, Ranjan Pai-led MEMG Family Office invested INR 40 Cr for a minority stake.
Finnable’s latest fundraise comes amid rising investor interest in digital lending, the most funded segment within fintech—accounting for 37% of total sector funding between 2020 and H1 2025, as per Inc42 data.
The momentum is reflected in peers like CredRight, Flexiloans, Bizloan, Techfino and InPrime Finserv, which have all secured fresh capital this year. With India’s fintech sector projected to reach $250 Bn in revenue by 2030, lending tech startups are expected to contribute over 53% of that growth.
The post Finnable Raises INR 500 Cr To Expand Lending Portfolio, Strengthen Tech Stack appeared first on Inc42 Media.
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