te Fintech firm Stashfin raises $100 million debt from InnoVen, Trifecta Capital | Zee Business

Fintech firm Stashfin raises $100 million debt from InnoVen, Trifecta Capital

According to the company's statement, Stashfin plans to use the new funding to boost customer satisfaction, optimise its portfolio for prospective securitisation, and further improve financial inclusion.

Fintech firm Stashfin raises $100 million debt from InnoVen, Trifecta Capital
The new debt fund is Stashfin's follow-up of the Series C round in May 2022. Source: Pixabay

Stashfin, a fintech firm, has received $100 million in debt from InnoVen Capital and Trifecta Capital, according to a statement. A host of domestic lenders also participated in the round, the company said without disclosing the names of the investors.

Stashfin was valued at $730 million in its most recent investment round and has so far received close to $430 million in both equity and debt.

“Players like Stashfin are defining a new category by enabling access to funds for under-served segments," said Ashish Sharma, managing partner, InnoVen Capital.

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The new debt fund is Stashfin's follow-up of the Series C round. The company raised $270 million in Series C in May last year, and out of that, only $70 million was raised in exchange for equity from Uncorrelated Ventures, a San Francisco-based company while the rest $200 million was debt from Fasanara Capital, Abstract Ventures and other investors.

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“It is promising to see how our efforts and unique product offering have helped us scale swiftly and benefited all of our partners and stakeholders. The new collaborations will add more velocity to our growth given our robust business model and extensive market demand," said Tushar Aggarwal, CEO and founder of Stashfin.

According to the company's statement, Stashfin plans to use the new funding to boost customer satisfaction, optimise its portfolio for prospective securitisation, and further improve financial inclusion.

Stashfin was started in 2016 and offers financial services & products to millions of borrowers in India. The company claims that it serves more than 10 million consumers who have limited credit footprints. Its 80 per cent of revenues come from India and the remaining 20 per cent is from Singapore.

Written By: Bhawna Gupta
Updated: Fri, Mar 24, 2023
08:46 pm
New Delhi, ZeeBiz WebDesk

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