Credit Fair, a consumer lending fintech start-up, said it has raised $15 million as part of its seed-round funding, a blend of debt and equity, led by angel investors Anand Ladsariya and Alok Agarwal.
The firm will leverage the capital infusion to augment its technology team, enhance underwriting models and expand into tier 2 and tier 3 cities to scale up its assets under management, it said.
Aditya Damani, founder of the firm said, “Our venture aims to financially empower Indians from remote areas or those without a credit score who traditionally comprise some of the most unbanked and underserved segments across the country.”
“To this end, we are extending credit across key sectors that are crucial for improving India’s social infrastructure, especially in these Covid times. We will utilise the funding to accelerate our advances,” he added.