In its most recent funding round, 50Fin, a fintech startup, has successfully raised $550,000 with the support of Arali Ventures and Nitin Gupta.
Prior to this, the company had secured Rs 4.25 crore ($500K) in a pre-seed funding round, co-led by 100X.VC, Keynote Capital, and Arun Venkatachalam in July of last year.
According to a press release, this new capital injection will aid 50Fin in its expansion plans and technological advancements.
The company also aims to broaden its distribution reach and enhance its infrastructure offerings to NBFCs. Founded in 2022 by Aditya Srinivas Prasad and Darpan Samir Tanna, 50Fin offers swift loans against mutual funds and shares to its customers.
The company has simplified the entire loan process, completing all necessary steps, from registration to loan approval, in just 7 minutes, without any physical documentation or CIBIL checks.
Partnering with industry leaders like Fi Money and Bajaj Capital, 50Fin offers LAS solutions to a diverse range of clients. The company boasts of significant growth since its last funding round, with its distribution capacity increasing by more than six times.
