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Fintech Startup Ring Acquires Debt from Trifecta Capital Totaling Inr 100 Cr.

Fintech Startup Ring Acquires Debt from Trifecta Capital Totaling Inr 100 Cr.

18 April 2024 – According to RING, the additional cash will be used to increase its loan book and for on-lending. In 2022, Trifecta Capital provided the lending tech firm with a loan of INR 50 Cr. The RING app lets users pay using UPI and provides loans with several terms.

Venture capital platform Trifecta Capital has provided debt investment of INR 100 Cr (about $12 Mn) to the lending tech business RING (previously Kissht).

The business stated in a statement that it would use the additional funding to increase its loan book and for on lending. RING is an OnEMi Technologies subsidiary that was established in 2015 by Ranvir Singh and Krishnan Vishwanathan.


Conclusion

The RING app, which debuted in 2022, provides both short—and long-term loans. According to the firm, it offers flexible repayment choices and low interest rates for multi-tenured loans up to INR 5 lakh. Users may also use it to make UPI payments. According to RING, it has ten lakh merchants nationwide that assist it in gaining clients. Trifecta Capital has now given the lending tech business a loan for the second time.

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