Northern Arc Capital backs lending expansion of True Credits
Fintech platform True Balance has raised $10 million (approximately Rs 83 crore) in debt funding from a group of investors including Northern Arc Capital. The capital will be used to support the growth of its lending subsidiary, True Credits Pvt Ltd, as the company expands its digital credit offerings in India’s underserved financial services segment.
Capital to scale lending operations and launch new loan products
The fresh debt funding will be deployed to strengthen True Credits’ lending operations and introduce new loan products tailored for Indian consumers. The company aims to increase credit access for users who remain underserved by traditional banking institutions, particularly individuals with limited or no credit history.
Platform focused on financial inclusion for underbanked users
Founded in 2014, True Balance operates as a digital financial services platform offering bill payments, mobile recharge, and lending services. Through its NBFC arm, True Credits Pvt Ltd, the company provides personal loans primarily targeting new-to-credit borrowers and users overlooked by traditional banks.
Global backing and growing lending footprint
True Balance is operated by Balancehero India, the Indian subsidiary of South Korea-based Balancehero. The platform has disbursed more than $30 million in loans during the current financial year. To date, the company has raised around $150 million across equity and debt rounds, including a $28 million round led by SoftBank and Daesung Private Equity. The latest debt infusion will support the company’s efforts to expand financial inclusion through digital lending solutions.
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