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Fintech platform, Stashfin on Friday announced to have raised $100 million with InnoVen Capital and Trifecta Capital participating as new debt partners. A host of domestic lenders also participated as debt providers. The debt raise comes as a follow up to the Series C round of funding of $270 million in H1 ‘2022 which valued Stashfin at about $730 million. Funds will be utilized to optimize the portfolio for potential securitization as it continues to drive rapid business growth and superior customer experience enabling financial inclusion for various segments of the society.
“We look forward to this new partnership with InnoVen and Trifecta Capital as we continue our journey of providing fair and transparent access to capital for Indian consumers. It is promising to see how our efforts and unique product offering have helped us scale swiftly and benefited all of our partners and stakeholders. The new collaborations will add more velocity to our growth given our robust business model and extensive market demand,” said Tushar Aggarwal, CEO and founder, Stashfin.
The company recently issued its first debt issue to retail investors on a credit platform Wint Wealth that was subscribed within a few minutes.
“Stashfin has a strong strategic vision and has witnessed extensive growth with profitability at its core. Fintech is a vibrant industry and players like Stashfin are defining a new category by enabling access to funds for under-served segments,” said Ashish Sharma, managing partner, InnoVen Capital.
Founded in 2016, Stashfin has a vision to drive financial inclusion and freedom for underserved segments in India through transparent and equitable practices. The firm has witnessed a high volume of growth in digital lending while profitably acquiring new customers. Stashfin has witnessed several positive developments such as ICRA upgrading the firm’s rating to BBB (Stable) / A3+ for its group company Akara Capital Advisors Private Limited (ACAPL).