Get All Access for $5/mo

Credit Fair Raises $10 Million In Seed Extension Funding The company plans to utilize the fund to augment technology and deliver a superior customer experience at the point-of-sale

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Credit Fair, an embedded credit fintech startup, has raised $10 million in debt and equity as a part of its Seed extension round. The fresh investment round was led by LC Nueva Investment Partners through their early-stage venture capital fund, LC Nueva Alternative Investment Fund (AIF). The round also witnessed participation from Capital A, Sattva Family Office, Nitesh Damani of Khel Group and Nikhil Chandra Gupta, along with the existing investors such as Anand Ladsariya, Neeraj Goenka and Alok Agarwal. Credit Fair plans to utilize the fund to augment technology and deliver a superior customer experience at the point-of-sale.

"This round will further strengthen our mission to extend credit to underserved Indians. The capital infusion and guidance from the marquee group of investors will help us accelerate our journey towards creating a financial inclusive future and effectively diversifying our financial solutions and services," said Aditya Damani, founder and CEO, Credit Fair.

The company aims to build a credit ladder for 550 million underserved Indians and reach 5000 active merchant partners and grow disbursements to a $360 million annual run rate, claimed by the company in a statement.

"The revival of the economic activities after the pandemic-led disruptions has resurrected the consumer sentiment and reinvigorated the credit demand across business and consumer segments. We are delighted to collaborate with Credit Fair at this critical juncture and support their mission to deepen financial inclusivity by simplifying access to credit," said Sohil Chand, founding partner and CIO, LC Nueva AIF.

Founded in 2018, Credit Fair is a B2B2C lending focused fintech startup which offers lending solutions and unsecured loan options at the point-of-sale to business and consumers at no-cost or low-cost.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Living

70% of Small Business Owners Experience Monthly Burnout. Follow These 3 Rules to Avoid the Same Fate.

Here are three guidelines to help entrepreneurs achieve balance, growth and success in both their professional and personal endeavors.

Business News

Former Steve Jobs Intern Says This Is How He Would Have Approached AI

The former intern is now the CEO of AI and data company DataStax.

Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.