Credit Fair, a credit fintech startup, on Wednesday raised $10 million in debt and equity in its seed extension round, led by LC Nueva Investment Partners through its lead equity fund- start-up risk, LC Nueva Alternative Investment Fund (FIA).
The investment round also saw participation from venture capital fund Capital A, Sattva Family Office, Khel Group’s Nitesh Damani and Nikhil Chandra Gupta, in addition to existing investors such as Anand Ladsariya, Neeraj Goenka and Alok Agarwal. InCred Finance, Vivriti Capital and Caspian Impact provided loan capital.
According to Credit Fair, the startup will use the funds to augment technology and deliver a superior customer experience at the point of sale. The Mumbai-based company will also leverage the capital injection to launch its wealth technology platform, Credit Fair Capital, which will allow retail investors to access secure fixed income alternatives that were previously only available. for wealthy investors.
Founded in 2018, the company aims to foster financial inclusion by providing customized lending solutions to underserved business and consumer segments.
Aditya Damani, Founder and CEO of the fintech, said, “Credit Fair has become a cutting-edge and fast-growing lending platform with faster disbursements and low interest rates. The capital injection and the advice of the group of renowned investors
help us accelerate our journey towards creating an inclusive financial future and effectively diversify our financing solutions and services.
Speaking about the revival of economic activities, Sohil Chand, Founding Partner and Chief Investment Officer of LC Nueva AIF, said that consumer sentiment has been strengthened and has reinvigorated credit demand in the business and consumer segments. Behavioral change has also catalyzed the steady adoption of digital channels and omnichannel platforms to opt for business or consumer finance solutions, he added.
“Credit Fair has the potential to become the platform of choice for consumers and businesses looking for convenient credit solutions. We are excited to play our part in its growth journey,” said Ankit Kedia, Founder of Capital A.