Digital lending startup Finnable secured Rs 250 crore in funding this August in a round led by Z47 (formerly Matrix Partners) and TVS Capital. This marks the company’s second tranche, following a similar Rs 250 crore infusion by the same investors in November 2024.
Consequently, the Bengaluru-based lending startup’s total capital raised now stands at Rs 540 crore. The MEMG family office, led by Ranjan Pai, also participated in this round.
With the fresh funds, the firm aims to strengthen its technology capabilities, expand its branch network, and develop new product lines. It introduced loans against property (LAP) in April this year and is currently offering the product through 15 branches.
“The equity we have raised is primarily for lending,” said cofounder Nitin Gupta. “We will also invest some of it in AI and technology and expansion into more geographies.”
Founded in 2015 by ex-bankers Nitin Gupta, Amit Kumar, and Viraj Tyagi, Finnable provides personal loans to salaried professionals, with an average tenure of 42 months. The company operates an RBI-registered NBFC arm, Finnable Credit, whose assets under management (AUM) reached Rs 2,924 crore as of June 30, 2025—up significantly from Rs 370 crore in March 2022, according to a CareEdge rating released in September.
Expressing confidence in Finnable’s growth, Z47 managing director Vikram Vaidyanathan said, “We are proud to double down on our partnership with them as they continue scaling their business and introducing new loan products designed around customer life goals.”
Finnable actively engages in co-lending partnerships with Axis Bank, Utkarsh Small Finance Bank, Vivriti Capital, TVS Credit, and others alongside its core lending operations. Part of this co-lending business functions under a first loss default guarantee (FLDG) model, where Finnable covers a portion of loan defaults for its partner banks.
Currently, the company derives about 95% of its business from personal loans, while loans against property targeting micro, small, and medium enterprises contribute the remaining share. For FY25, Finnable reported a consolidated revenue of Rs 278.49 crore and a profit of Rs 6.74 crore.
