Fintech startup Credit Fair has raised $15 million in an equity and debt seed round led by angel investors Anand Ladsariya and Alok Agarwal. Ladsariya and Agarwal are the CEOs of Everest Flavours and Striver Capital Advisors respectively.
It’s quite surprising to see a startup manages to raise $15 million in a seed round from only two angel investors.
The Mumbai-based startup will use the capital to build its technology team, expand into Tier II and III cities and ramp up merchant partnerships.
Led by Aditya Damani, the B2B2C startup offers full-stack lending solutions to both businesses and private individuals. The ticket size ranges from Rs 10,000 to Rs 20 lakh for a tenure of three months to three years.
The fintech firm is the financial partner for over 1,000 merchants, including brands like upGrad, Nova IVF, Design Café, Asian Paints, Arrivae, Hero Electric and Ampere by Greaves among others.
Last month, e-commerce rollout company 10club became the largest seed-funded startup in India with a $40 million round co-led by Fireside Ventures. The list of top seed funded startups include Acko, CRED, INDmoney, Jupiter, Uni, EpiFi, Velocity, Mosaic Wellness and Loco.