Nitin Gupta and Arali Ventures led the latest financing round for fintech firm 50Fin, which brought in $550,000.
According to a press statement, 50fin intended to use the additional funds to promote its technological advancements and expansion objectives. Additionally, the company hopes to expand distribution and network solutions to non-bank finance organisations.
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Aditya Srinivas Prasad, CEO, 50Fin, commented, “Over the last year, our distribution capacity has gone up 6X, and our products are now generating value across investor classes. We have also launched our B2B vertical, which allows banks and NBFCs to digitise LAS for the clients while completely automating the entire operation of the product. We remain committed to being the leading full-stack LAS provider in the market and are on track to reach profitability in the next 12–16 months.”
Serving Indian investors in particular, it is a secured lending platform that aims to democratise and digitise capital market lending. According to the company, the entire loan application process has been streamlined, requiring no hard copy documentation or CIBIL checks, and just takes seven minutes from the point of sign-up to the point of loan acceptance.
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About 50Fin
Aditya Srinivas Prasad and Darpan Samir Tanna co-founded 50Fin in 2022 to provide consumers with quick loans secured by shares and mutual funds.
