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FincFriends closes $11.5 Mn debt funding round

EntrackrEntrackr · 3m ago
FincFriends closes $11.5 Mn debt funding round
Medial

FincFriends, a non-banking financial company (NBFC), has secured Rs 98.5 crore ($11.5 million) in debt funding during Q4 FY25. The funding round includes Rs 54.5 crore raised from NBFCs and Rs 44 crore via Non-Convertible Debentures (NCDs). It saw the participation of investors such as IBL Finance, Incred Financial Services, Real Touch Finance, Shine Star Build-Cap, and Western Capital Advisors Private Limited. This funding aims at scaling its reach, operations and introducing new personal credit offerings tailored to the underserved borrowers with limited access to formal financial services, FincFriends said in a press release. FincFriends says that RupeeRedee plays a pivotal role in advancing credit access and creating a financially inclusive ecosystem. With state-of-the-art technology and data-driven insights, it continues to bridge the credit gap for underserved segments. Moreover, with the financial expansion of its lending partner FincFriends, it further plans to empower the borrowers and scale digital innovation in the lending ecosystem. “This funding marks a strategic milestone in our journey to enable accessibility of responsible credit across India. With the valuable trust of our investors, we are positioning our brand to deepen our reach, strengthen fintech infrastructure and develop personalised credit solutions to address the financial realities of underserved communities,” said Artem Andreev, CEO of FincFriends. Launched in 2017, FincFriends is dedicated to delivering financing solutions and providing loans to end customers through a completely digital and secure process. It focuses on ensuring that individuals can easily access hassle-free cash to manage unexpected financial expenses.

Pine Labs sees credit line on UPI as India’s next credit growth driver

EntrackrEntrackr · 9h ago
Pine Labs sees credit line on UPI as India’s next credit growth driver
Medial

Pine Labs sees credit line on UPI as India’s next credit growth driver India has 330 million credit-ready consumers but 150–200 million remain underserved, a gap that embedded credit products like CLOU aim to address. Pine Labs’ latest industry report, supported by McKinsey, points to “credit line on UPI” (CLOU) as the big growth driver for credit-linked payments at checkout, as India’s lending landscape undergoes rapid changes. By 2030, the report estimates, credit-linked payment products could generate as much revenue as home and auto loans. The push will be led by UPI’s 65 million QR-enabled merchants and digital-native customer base, with 490 million consumers already on UPI. Despite high awareness among the non-carded base, actual usage of products like BNPL or EMI on debit cards remains low, largely due to discoverability, acceptance, and trust issues. At present, consumers prefer credit options that are easy to access on familiar apps, simple to use, transparent, and widely accepted. CLOU’s pitch is to leverage existing QR infrastructure for small-ticket credit, which unlocks viable lending economics for banks and NBFCs. The product will allow lenders to offer customized propositions, improve risk management through AI-led underwriting, and scale via ecosystem partnerships. The report also flags the need for banks and tech players to invest in configurable, modern tech stacks and develop strong merchant and TPAP (third-party app provider) partnerships for adoption. The report further highlights that the next lending revolution is starting right at the checkout, with new credit products set to change the way Indians shop and borrow.

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