Finnable secures ₹500 crore in equity funding led by Z47 and TVS Capital to enhance access to credit for India's emerging professionals.

Target Information

Finnable, one of India’s fastest-growing digital lending companies, has successfully secured ₹500 crore in equity funding, with backing from Z47 and TVS Capital. This funding round signifies a robust endorsement of Finnable’s objective to provide responsible, transparent, and accessible credit to India’s burgeoning workforce. Founded by Nitin Gupta and Amit Arora, Finnable leverages advanced data intelligence combined with a strong credit culture to facilitate quick and responsible loan offerings, aimed at aiding professionals in achieving personal milestones such as healthcare, education, and home improvement.

Finnable’s innovative model integrates digital solutions for loan underwriting and approvals, while maintaining a physical presence for verification and collections. This hybrid approach, termed 'phygital,' emphasizes the importance of personal relationships in lending. Notably, 65% of Finnable’s clientele are first-time personal loan borrowers, yet their repayment behaviours align closely with experienced borrowers, highlighting Finnable's ability to foster a trustworthy credit ecosystem.

Industry Overview

India's consumer credit landscape has traditionally favoured established individuals with lengthy credit histories and stable incomes. However, a significant portion of the population, particularly younger professionals earning between ₹15,000 and ₹50,000 per month, have be