Sunday, October 01, 2023
Outlook India
Outlook Business

Nbfc is backed by Red Fort Capital

This funding brings the total raised by the digital lending platform to $11.6 million in equity including the last round in September 2022

This is the NBFC's highest-ever quarterly fundraise since its inception in 2016

The non-banking financial company’s net profit before tax for the quarter stood at Rs 13.58 crores and its income was Rs 92.96 crores

The partnership will help in financing solar solutions like solar rooftops, EPC services, and other innovative solar products for new-age customers that are consciously adopting sustainable and natural modes of energy

As part of the acquisition, FinFort will join the Yubi group of companies, collaborating with Yubi's subsidiary, Corpository, a SaaS-based credit analytics platform for corporate lending, providing access to over 100 public information sources

The company is currently having 1,200 associates strategically placed across 34 cities

The device has claimed to support multiple languages to support financial inclusivity, including Hindi, Telugu, Kannada, Tamil, Malayalam, Marathi, Bengali, Odia, Gujarati, and Punjabi, in addition to English

Mufin Group has been working in the financial domain since 1985 through its parent company Hindon Mercantile Limited

With this license, the company aims to provide more flexible and accessible funding without equity dilution to thousands of emerging SMEs