Digital lending startup Finnable has raised INR 250 crore in a new funding round led by Z47 (formerly Matrix Partners) and TVS Capital.
This is Finnable’s second round of funding, after the same investors put in another INR 250 crore in November 2024. With this latest round, the Bengaluru-based startup has now raised a total of INR 540 crore. The MEMG family office, led by Ranjan Pai, has also invested in the company.
Finnable plans to use the funds to upgrade its technology, open more branches, and launch new financial products. The company began offering loans against property (LAP) in April this year and currently provides this service through 15 branches across India.
“The equity we have raised is primarily for lending,” cofounder Nitin Gupt said. “We will also invest some of it in AI and technology and expansion into more geographies.”
“We are proud to double down on our partnership with them as they continue scaling their business and introducing new loan products designed around customer life goals,” said Z47 managing director Vikram Vaidyanathan.
Founded in 2015 by former bankers Gupta and Amit Kumar, along with Viraj Tyagi, Finnable is a Bengaluru-based fintech startup that offers personal loans to salaried professionals.
The company also runs an RBI-registered NBFC called Finnable Credit. As of June 30, 2025, its assets under management (AUM) stood at Rs 2,924 crore, a big jump from Rs 370 crore in March 2022, according to a CareEdge report published in September 2025.
Finnable also works in co-lending, partnering with major financial institutions like Axis Bank, Utkarsh Small Finance Bank, Vivriti Capital, TVS Credit, and others. In this model, the company and its partners share the lending process to offer loans to more customers.
Some of these partnerships run under a First Loss Default Guarantee (FLDG) model, where Finnable takes responsibility for covering a small portion of any loan defaults. This helps build trust with partner banks and reduces their risk.
Around 95% of Finnable’s business comes from personal loans, while the rest comes from loans against property, mainly for small and medium-sized businesses. In FY25, the company earned a revenue of Rs 278.49 crore and made a profit of Rs 6.74 crore.
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