LC Nueva, Capital A, others invest $10 mn in fintech startup Credit Fair
Fintech lender Credit Fair has secured $10 million (around Rs 80 crore) in a mix of equity and debt as part of its extended seed round from LC Nueva Investment Partners, the company said on Wednesday.The round also saw participation from Capital A, Sattva family office, Nitesh Damani of Khel Group and Nikhil Chandra Gupta, apart from existing investors such as Anand Ladsariya, Neeraj Goenka and Alok Agarwal. InCred Finance, Vivriti Capital and Caspian Impact provided debt capital.The Mumbai-based startup will use the funds to enhance technology. The behavioural shift has also catalyzed steady adoption of digital channels and omnichannel platforms to go for business or consumer finance solutions, Sohil Chand, founding partner and chief investment officer, LC Nueva AIF.Formed by Aditya Damani in May 2018, the B2B2C lending-focused startup aims to build a credit ladder for 550 million underserved Indians. It also raised $15 million as part of its seed round led by angel investors Anand Ladsariya and Alok Agarwal. The investors have previously backed startups including Oyo, Ola, Myntra, Healthkart, WowMomos, Uniphore and 1mg.
Fintech & Banking