Ranjan Pai’s family office invests Rs 40 crore in Finnable

Ranjan Pai-led MEMG family office, which has made investments in several edtech and health tech startups, is investing Rs 40 crore in a fintech startup Finnable for a significant minority stake.

Finnable, a three-year-old startup has built a digital lending platform that approves loans in real-time to customers who are unable to approach the banks for their immediate loan requirement. A lack of prior credit history has prevented banks from “cracking the code” for this segment.