FincFriends raises $11.4m to grow digital loans

By Vriti Gothi

FincFriends, a registered non-banking financial company (NBFC), has raised $11.4 million in debt funding as it looks to expand digital lending.

The latest funding round aims to strengthen FincFriends’ capacity to reach more underserved individuals, enhance its technological capabilities, and roll out new lending products designed to reflect the realities of borrowers who have historically struggled to access credit through traditional channels.

Of the total amount raised, $6.4 million has come from established NBFCs, while a further $5.1 million has been secured through Non-Convertible Debentures (NCDs). Among the participating investors are IBL Finance Limited, Incred Financial Services Limited, Real Touch Finance Limited, Shine Star Build-Cap Private Limited and Western Capital Advisors Private Limited.

FincFriends works in close partnership with RupeeRedee, a digital lending platform that uses data-led underwriting and automated decision-making to connect underserved customers with appropriate credit products. With India’s fintech sector seeing steady growth and digital adoption rates climbing, lenders are increasingly looking to reach new borrowers by combining advanced analytics with a flexible approach to assessing creditworthiness.

Artem Andreev, CEO of FincFriends, said, “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.”

The funding will support the scaling of its loan book, the introduction of additional tailored personal credit offerings, and continued investment in its risk management and customer support frameworks. FincFriends and RupeeRedee plan to expand digital lending operations in regions where access to formal credit remains limited, particularly for individuals with irregular income streams or no prior credit history.

The move reflects broader trends within India’s lending landscape, where growing smartphone penetration, digital payments adoption, and regulatory initiatives have helped accelerate the shift towards digitally enabled financial inclusion. By leveraging modern technology and alternative data sources, platforms like RupeeRedee aim to make access to credit faster, more flexible and more aligned with the diverse needs of new-to-credit and underserved borrowers.

FincFriends has stated that this expansion will also help strengthen the resilience of the lending ecosystem by enabling more people to manage unforeseen expenses and improve their financial stability. With new capital in place, the company intends to deepen its partnerships, scale its distribution channels and advance its contribution to India’s evolving digital credit market.