True Credit Secures $75M Debt from CIM
True Credit (Truebalance) secures USD 75 million debt from US-based CIM to boost its digital lending expansion in India. Get the latest fintech funding news.
MUMBAI- Non-bank lender True Credit, the operator of the popular Truebalance app, has successfully secured USD 75 million (approximately ₹671 crore) in debt from US-based CIM. This capital infusion is aimed at accelerating the company's growth and credit reach across diverse Indian markets.
The funds, raised by parent company Balancehero India, will be utilized to enhance AI-driven underwriting and launch new product categories. Currently disbursing over ₹500 crore monthly, the firm remains committed to providing responsible credit solutions to underserved segments in the country.
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