Finnable Set to Raise ₹30.55 Crore in New Funding Round

Finnable, a Bengaluru-based digital lending platform, is gearing up for a significant funding round, aiming to raise approximately ₹30.55 crore (around $3.7 million) in a Series B financing effort.

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The funding will be led by the TVS Shriram Growth Fund, alongside several prominent investors, marking an important milestone for the fintech startup.

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The board of Finnable has passed a resolution for the issuance of 92,831 preference shares at ₹3,290.95 each.

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This funding round will strengthen the company's finances and enhance its ability to offer personal loans to salaried professionals, its primary customer segment.

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The private equity growth-expansion fund managed by the TVS Capital, TVS Shriram Growth Fund will invest ₹19.40 crores in this round.

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Following this funding round, ownership stakes will be allocated, with MEMG Family Office LLP holding 18.69% in Finnable and Matrix Partners India holding 14.53%.

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