Fintech Platform True Balance Secures $10 Million Debt Funding to Expand Lending Operations

True Balance, a fintech platform, has successfully raised $10 million in debt funding. The funds were secured from a group of investors, including Northern Arc Capital, to support the expansion of its lending arm, True Credits Pvt Ltd. 

Funding to Boost Lending Operations 

The newly acquired debt capital will be utilised to enhance True Credits' lending operations and introduce new loan products in the Indian market. Founded in 2014, True Balance has been dedicated to providing financial services to underbanked and new-to-credit users in India. 

Through its NBFC arm, the company has disbursed more than $30 million in loans during the current financial year. This latest funding round will enable True Balance to further its mission of reaching borrowers who are often overlooked by traditional banks. 

Company Background and Achievements 

True Balance is operated by Balancehero India, the Indian subsidiary of South Korea-based Balancehero. The platform offers digital financial services, including bill payments, recharge, and lending products, to users across India. 

Since its inception, True Balance has raised a total of $150 million through various equity and debt rounds. This includes a $28 million funding round led by SoftBank and Daesung Private Equity. The company last raised funds almost 3 years ago. 

Read More: Fairfax and OMERS Extend IPO Timeline for Bengaluru Airport Holding Company to September 2026! 

Focus on Underbanked Users 

True Balance's personal loan platform primarily targets borrowers who lack access to traditional banking services and have no credit scores. By focusing on this segment, the company aims to bridge the gap in financial inclusion in India. 

The recent infusion of debt capital is expected to bolster True Balance's efforts in expanding its reach and offering more tailored financial solutions to its users. 

Conclusion 

True Balance's $10 million debt funding marks a significant step in expanding its lending operations. With a focus on underbanked users, the company continues to play a crucial role in enhancing financial inclusion in India. 

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