IIFL Fintech Fund exits TrustCheckr post TrueCaller acquisition

IIFL’s early-stage investment arm IIFL Fintech Fund has exited fraud detection platform provider TrustCheckr after the recent acquisition of the Bengaluru-based startup by TrueCaller.

The exit marks a first for the fund, which acquired the stake for nearly $1 million in March last year. After 18 months, the fund has sold its holding for close to $1.8 million, the company told FE.

The exit comes at a time when funding in fintech companies is seeing an uptick as investors are optimistic about the country’s digital payments growth.