True Balance raises $30 million in debt for financial arm

New Delhi: True Credits – the NBFC and an affiliate of an RBI-authorised lending company True Balance – on Tuesday announced a debt fundraise of $30 million (about Rs 223.2 crore) from investors, including Northern Arc, Arthmate, Shine Star and others. With this, the total debt fund raised stood at $55 million in FY2021, a statement said.

This third round of investment has come from the mix of new and existing investors namely, Northern Arc, Arthmate, Shine Star, E clear and Hinduja, and other Korean investors to support the company’s growth in India, it added.