TLDR:
- 50Fin secures $550K in funding led by Arali Ventures and Nitin Gupta.
- The company plans to focus on expansion and technological advancements.
Fintech start-up 50Fin has recently secured $550K in funding, led by Arali Ventures and Nitin Gupta. This funding will be used to fuel the company’s expansion plans and enhance its technological capabilities. Following a previous raise of $500K from investors such as 100X.VC, the company has experienced significant growth, with its distribution capacity increasing by over six times. By leveraging embedded technology, 50Fin aims to streamline the distribution of loans against securities, making them more convenient and accessible to borrowers. The company has also formed strategic partnerships with industry leaders like Fi Money and Bajaj Capital to offer their loan solutions to a wider customer base.
According to Aditya Srinivas Prasad, CEO of 50Fin, the company’s goal is to become the leading full-stack provider of loans against securities in the market and achieve profitability within the next 12-16 months. Arun Raghavan, Managing Partner at Arali Ventures, believes that there is a significant market potential for leveraging mutual funds as assets for lending, and sees 50Fin as a key player in democratizing access to this product for millions of mutual fund holders in India.
With a focus on technology and innovation, 50Fin aims to drive positive change and empowerment in the lending against securities industry, shaping the future of this sector.
