True Balance, a fintech platform focused on providing financial services to underserved users, has raised $10 million in debt funding from a group of investors, including Northern Arc Capital. The funds will be used to strengthen and expand the lending operations of its NBFC arm, True Credits Pvt Ltd.
The newly secured capital will support the growth of True Credits’ lending activities and enable the company to introduce additional loan products in the Indian market. The funding is expected to help the platform broaden its reach among borrowers who are often underserved by traditional financial institutions.
Founded in 2014, True Balance focuses on providing accessible digital financial services to underbanked and new-to-credit users across India. Through its lending arm, the company has disbursed more than $30 million in loans during the current financial year, reflecting the increasing demand for alternative credit options among consumers who may not have formal credit histories.
The platform is operated by Balancehero India, the Indian subsidiary of South Korea-based Balancehero. In addition to lending services, True Balance offers a range of digital financial products including bill payments, mobile recharge and other payment services.
True Balance’s personal loan platform primarily targets borrowers who are often neglected by banks and lack traditional credit scores, aiming to provide them with easier access to financial services through digital channels.
Since its launch, the company has raised a total of $150 million through a mix of equity and debt funding rounds. This includes a $28 million investment round led by SoftBank and Daesung Private Equity. The latest debt raise comes nearly three years after the company’s previous funding round and is expected to support its continued expansion in India’s digital lending ecosystem.
