IIFL Fintech Fund announces maiden exit, clocks 80% return

Financial services giant IIFL Group’s early-stage investment arm IIFL Fintech Fund announced its first exit on Monday, divesting its stake in fraud detection platform TrustCheckr to Swedish caller identification app Truecaller, delivering an 80% return to investors.

The fund, backed by group companies IIFL Finance and IIFL Securities, has a corpus of Rs 210 crore invested in a portfolio of 13 companies including Bengaluru-based stock analytics platform Trendlyne, document infrastructure platform Leegality, insurance technology startup Insurance Samadhan, among others.