Credit Fair obtains undisclosed debt financing from Northern Arc

Credit Fair, a consumer loan fintech startup has secured undisclosed debt from Northern Arc to help underserved Indians in Level II and Level III cities move up the credit ranks. They aim to provide specific funding for education, medical care, electric vehicles and home renovations.

For small businesses and growing middle and low income users, they plan to offer extended credit products through their mobile app to enable digital financial services. To date, more than 30,000 customers have already benefited from Credit Fair’s digitized and automated service.

Aditya Damani, Founder of Credit Fair, said: “We will benefit from Northern Arc’s experience advising hundreds of leading financial services companies. In addition to the injection of funds, they will advise us on the optimization of our debt raising strategy. This alliance is a crucial step in the expansion of our products and services in all market categories, allowing our clients to benefit from it and strengthen our position as preferred lender. “

Bama Balakrishnan, COO, Northern Arc, said: “The partnership goes far beyond funding, as we help our partners put in place the best processes and frameworks, develop fundraising strategies and provide inputs. on technological solutions. “

Following the announcement of the funding, Credit Fair is looking to expand its portfolios with a range of products and services by partnering with other NBFCs.

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Posted on: Thursday November 25, 2021 12:37 IST

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