Fintech startup Credit Fair has raised $10 million as part of its seed round, which is a mix of debt and equity, led by LC Nueva’s fund–LC Nueva AIF.
Capital A, Sattva Family Office, Nitesh Damani of Khel Group and Nikhil Chandra Gupta and existing investors–Anand Ladsariya, Neeraj Goenka and Alok Agarwal have also participated.
With this, Credit Fair has raised a total of $25 million to date.
Credit Fair will use the funds to develop technology and enhance customer experience at the point-of-sale. It will also deploy funds to launch its wealthtech platform: Credit Fair Capital.
Founded in 2018 by Aditya Damani, Credit Fair offers customised low-cost lending solutions and unsecured loans to businesses and consumers. It offers loans ranging from INR 10K to INR 20 Lakh for the period of three months to three years.
Credit Fair claims to have partnered with more than 1,000 merchants including upGrad, Nova IVF, Design Cafe, Scaler, PristynCare, and Hero Electric, among others.
It competes with the likes of fintech lending startups such as ARTH, Aye Finance and ZestMoney, among others.