08th May 2024 – Fintech startup 50Fin has recently announced securing $550,000 in its latest funding round, with Arali Ventures and Nitin Gupta leading the investment charge. This follows its earlier success of raising Rs 4.25 crore ($500K) in a pre-seed funding round co-led by 100X.VC, Keynote Capital, and Arun Venkatachalam in July last year.
In a recent press release, 50Fin expressed its anticipation regarding the fresh capital infusion, citing it as instrumental in driving its expansion strategies and fostering technological advancements. The company aims to extend its reach through widened distribution channels and scaling up infrastructure offerings tailored for Non-Banking Financial Companies (NBFCs).
Co-founded in 2022 by Aditya Srinivas Prasad and Darpan Samir Tanna, 50Fin specializes in providing swift loans against mutual funds and shares, offering a streamlined process that completes everything from sign-up to loan approval within just 7 minutes, without the hassle of physical documents and CIBIL checks.
50Fin has solidified strategic collaborations with industry titans such as Fi Money and Bajaj Capital, thus extending Loan Against Securities (LAS) solutions to a diverse clientele base.
The company boasts exponential growth since its last funding round, with distribution capacity soaring by over sixfold, affirming its position as a prominent player in the fintech domain.
Conclusion
50Fin’s latest funding milestone marks a significant step forward in its journey to revolutionize the financial services sector. With Arali Ventures and Nitin Gupta’s backing, the company is poised to leverage its innovative approach to instant loans and LAS solutions, driving further growth and market impact.
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