Digital financial services platform True Balance has raised $10 million in debt funding from a group of investors, including Northern Arc Capital. The new funding will be used to strengthen the company’s lending operations through its non-banking financial company (NBFC) arm, True Credits Pvt Ltd.
The latest capital infusion is aimed at accelerating the growth of the company’s lending business and introducing new loan offerings tailored for Indian borrowers. The development comes as the company continues to focus on expanding financial access for individuals who have limited or no formal credit history.
Strengthening the Lending Arm
The fresh debt capital will primarily support the expansion of True Credits Pvt Ltd, the NBFC arm that manages lending operations for the platform. By increasing its lending capacity, the company plans to reach more customers who are underserved by traditional financial institutions.
True Balance intends to use the funds to scale its loan disbursement capabilities and introduce additional loan products in the Indian market. These offerings are expected to cater to individuals who often face difficulty accessing credit through conventional banking channels.
The lending platform is designed to provide small-ticket personal loans to users who may not have established credit scores or formal banking relationships. By leveraging digital infrastructure and data-driven assessments, the company seeks to extend financial services to a broader segment of the population.
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Focus on Underbanked and New-to-Credit Users
Founded in 2014, True Balance has built its business around serving underbanked and new-to-credit users in India. The platform focuses on customers who are frequently overlooked by traditional banks due to a lack of credit history or limited financial documentation.
Through its NBFC unit, the company has disbursed more than $30 million in loans during the current financial year. This reflects the company’s continued push to expand financial inclusion by offering accessible credit solutions to individuals who may otherwise struggle to obtain formal loans.
The personal loan platform of True Balance is specifically designed for borrowers who often do not qualify for traditional bank loans. By providing smaller and more accessible credit options, the company aims to address a significant gap in the country’s consumer lending ecosystem.
Digital Financial Services Platform
True Balance operates as a digital financial services platform offering a range of everyday financial tools. In addition to lending products, the app allows users to carry out digital transactions such as mobile recharges and bill payments.
The company operates in India through Balancehero’s Indian subsidiary, Balancehero India. Balancehero is a South Korea-based fintech company that launched True Balance as part of its efforts to expand digital financial services in emerging markets.
By combining payments and lending services within a single mobile platform, the company aims to provide convenient financial solutions to users who rely heavily on mobile-based services for their daily transactions.
Funding History and Investor Backing
Since its inception, True Balance has raised approximately $150 million through a combination of equity and debt funding. The company’s funding rounds have attracted participation from several investors, including SoftBank and Daesung Private Equity.
One of its notable fundraising milestones included a $28 million investment led by SoftBank and Daesung Private Equity. These investments have supported the company’s efforts to scale its financial services platform and strengthen its presence in the Indian market.
The newly announced $10 million debt raise marks the company’s first funding activity in nearly three years. The capital is expected to play a key role in expanding the reach of its lending business and enhancing its product offerings.
Expanding Access to Digital Credit
The latest funding highlights the continued focus of True Balance on improving access to digital credit for underserved users. With a growing number of consumers seeking quick and convenient financial services through mobile platforms, fintech companies are increasingly targeting segments that remain outside the traditional banking system.
By expanding its lending operations and introducing new loan products, True Balance aims to further strengthen its position in India’s digital lending space while continuing to serve customers who have historically faced barriers to accessing formal credit.
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