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Balancehero India, the parent company of True Credits, has secured USD 75 million in debt financing from Community Investment Management (CIM), a US-based institutional impact investment manager.
True Credits is an RBI licensed non banking financial company that lends through the True Balance fintech application. The cross border funding is expected to strengthen the company's capital base and support its next phase of growth in India.
According to the company, the fresh capital will be used to expand operations into new markets, product categories and customer segments. Balancehero said the funding will also help deepen its focus on providing fair, transparent and accessible credit to underserved and credit invisible users.
Over the past year, True Credits claims to have reported monthly loan disbursals consistently crossing INR 500 crore.
Community Investment Management has been active in impact focused credit globally since 2014. The firm has enabled USD 18 billion in credit to more than 12 million underserved borrowers across North America and emerging markets. Its investment in Balancehero marks a continued push to increase its presence in the Indian fintech and lending ecosystem.
Over the past year, True Credits claims to have reported monthly loan disbursals consistently crossing INR 500 crore.
Community Investment Management has been active in impact focused credit globally since 2014. The firm has enabled USD 18 billion in credit to more than 12 million underserved borrowers across North America and emerging markets. Its investment in Balancehero marks a continued push to increase its presence in the Indian fintech and lending ecosystem.
This article was originally published by the 
