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HomeFunding India-Based RING has Secured $12 Million in Debt Funding

[Funding Alert] India-Based RING has Secured $12 Million in Debt Funding

RING (previously Kissht) has received venture loan capital from Trifecta Capital totaling roughly $12 million. This signifies the Mumbai-based company’s first fundraising effort for 2024. According to a statement, RING intends to use the debt facility for on-lending and growing its loan book off its balance sheet.

Trifecta and the RING team, together with its founders Krishnan Vishwanathan and Ranvir Singh, are expanding their cooperation for the second time.

Read also – India-Based LightFury Games Raises $8.5 Million in Seed Funding

Early in 2022, the venture debt business had already given it an investment of Rs 50 crore. At the time, Northern Arc and Trifecta had both made an equal investment in the business.

Read also – Unacademy COO Raised $11 million in Seed Funding

In tier I, tier II, and tier III cities, it offers salaried and self-employed people personal credit of up to Rs 5 lakh. The organization states that it served more over 1 crore unique borrowers and exceeded an AUM of Rs 3,000 crore for the fiscal year that concluded on March 31, 2024.

About RING

RING is top fintech player in payments and lending in India is called 2022, OnEMi Technology Solutions Pvt. Ltd. introduced it. Consumers can use the RING App to make payments online and offline, including merchant payments for all costs in a single billing cycle at 0% interest within a predetermined window of time, or to transfer money to their bank. Mini payments are provided with no transaction fees at all.

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