True Balance Raises $10 Million for Lending Growth

True Balance has secured $10 million in debt financing from a group of investors, including Northern Arc Capital, aimed at bolstering the expansion of its lending arm, True Credits Pvt Ltd. The newly acquired debt capital is intended for enhancing True Credits’ lending operations and introducing new loan products to the Indian market.

About True Balance

Established in 2014, True Balance is dedicated to offering financial services to underbanked individuals and those new to credit. Through its non-banking financial company (NBFC) segment, the organisation has issued over $30 million in loans in the current financial year.

Operations and Services

True Balance operates under Balancehero India, the Indian branch of the South Korean firm Balancehero. The platform provides a variety of digital financial services, including bill payments, recharges, and lending products tailored for users in India. True Balance primarily targets personal loan borrowers often overlooked by traditional banks due to lacking credit scores.

Funding History

To date, True Balance has raised a total of $150 million through various equity and debt fundraising rounds. This includes a substantial $28 million investment led by SoftBank and Daesung Private Equity. The last funding round took place nearly three years ago.