Finnable, a fast-growing digital lending company, has raised ₹500 crore to make loans easier and safer for India’s salaried workers. This new funding shows that investors believe Finnable can become a big name in India’s fintech space.
About Finnable
Finnable was started in 2015 by Nitin Gupta, Viraj Tyagi, and Amit Arora. The founders noticed something important: many salaried people in India still find it hard to get quick and fair loans. Even though they have stable jobs, banks often make them wait for days, ask for too many documents or reject their loan requests.
Finnable wanted to fix this problem. So they built a digital lending platform that uses technology to check a person’s details quickly, make smart decisions and give loans without confusion. The company mainly helps people who earn between ₹15,000 and ₹50,000 per month. This income group includes workers from retail stores, BPOs, offices, delivery services, call centres, hotels and many other industries.
Finnable promises:
- Fast loans
- Clear rules
- No hidden charges
- Responsible lending
They also use strong data checks and smart tools to make sure they lend money safely. Because of this smart system, Finnable has a GNPA (Gross Non-Performing Assets) of around 1.1%. This means almost all customers pay their loans on time, which shows trust and discipline.
Finnable Funding Update
Finnable raised ₹500 crores of equity funding from Z47 and TVS Capital, reputable, legendary investors that are solid supporters of firms using technology to solve real-world problems. In raising this round of funding, these investors are showing cheer for Finnable’s prospects.
The new capital will allow Finnable to:
Continue to expand its lending capabilities so it can first serve more salaried individuals
Develop, in the future, its financial products, including insurance products and savings tools
To provide its services to new companies/employers across India
To enhance its technology platform to support quicker, safer, and more accurate processes
As technology continues to improve, Finnable will soon be able to process loan applications in minutes, detect fraud in real-time, and build financial products in respect to everyday Indians.
Why Finnable’s Work Matters?
India has millions of hardworking salaried people, but many still face difficulties when they need money urgently. Traditional banks can be slow, confusing and sometimes unfriendly to small or medium loan requests. This is where digital lending companies like Finnable make a big difference.
Here’s why Finnable is important:
Better Credit Access
Many salaried workers do not have credit cards or strong credit histories. Finnable gives them a chance to build a credit score and improve their financial future.
Quick Access to Money
Many people need loans for emergencies, medical needs, school fees, home repairs or sudden expenses. Finnable helps them get money fast without long waiting times.
Fair and Simple Process
The company believes in being transparent. Customers always know what they are paying and when. There are no hidden charges or surprises.
Safe Lending
Finnable uses technology to make sure loans go to the right people. This keeps both the company and the customers safe.
India’s Lending Market Is Changing
India’s fintech industry is growing very fast. People now prefer digital solutions because they are easy, fast and available anytime. Mobile phones and the internet have made it simple for workers to borrow money without visiting a bank branch.
Finnable is a part of this big change. With more people needing small and quick loans, digital lenders are becoming extremely important. They fill the gap between traditional banks and the financial needs of modern customers.
Investors are excited because fintech is one of the fastest-growing sectors in India. The success of Finnable shows that India is ready for more smart and responsible digital lending companies.
Looking Ahead
With new Finnable funding, Finnable plans to grow its services across India. The company wants to build a future where every hardworking professional can access money without fear or delay. As digital lending becomes bigger, Finnable aims to lead the way with safe, quick and easy credit.
India’s fintech world is moving fast, and companies like Finnable are shaping how people borrow money.
What do you think—what fintech segment will investors bet on next?
Read more :
- QuickShift Raises ₹22 Crore!
- DOCO Raises ₹4.5 Crore in Pre-Seed Round Led by GVFL and Malpani Ventures
- &Done Raises ₹6.5 crore!
- Navata Supply Chain Solutions has raised ₹13.5 crore
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