Credit Fair, a consumer lending startup on Wednesday raises Rs 15 crore debt funding from State Bank of India.
The funding will help Credit Fair focus on its growth strategy, enhancing customer satisfaction on digital payments platform as well as encouraging product innovations.
The NBFC aims to expand in the tier-II and tier-III cities to scale up its AUM and to grow disbursements up to $100mn in the coming year.
Aditya Damani, Founder and CEO, Credit Fair, said: “We have delivered right amount of credit at the right time with our technology. With SBI’s backing, we can also provide credit at the right cost.”
“This funding is a testimony to the growth potential of the Credit Fair. It also underscores the company’s profitability and ability to innovate newer solutions for business expansion. The investment fits perfectly with our expansion plans and future strategies,” Damani added.