IIFL Fintech Fund partially exits FinBox, achieving 5x returns on initial tranche

IIFL Fintech Fund, an early-stage fintech focused fund, has announced a partial exit from its investment in FinBox, a credit infrastructure and embedded finance platform. 

The fund has delivered 5x Multiple on Invested Capital (MOIC) on the initial tranche.

Since its investment, IIFL Fintech Fund has actively supported FinBox in scaling its technology and expanding its partnerships across banks, NBFCs, and fintech companies. The company has emerged as a key enabler of digital credit infrastructure, powering embedded finance solutions for leading financial institutions.

“Our investment thesis was anchored around the embedded finance space and the transformative role it will play in expanding access to credit. The partial exit not only validates our strategic approach but also reinforces the strength in our portfolio and the value we aim to create for our stakeholders,” said  Mehekka Oberoi, Fund Manager, IIFL Fintech Fund.

IIFL Fintech Fund remains committed to investing in innovative startups building the next generation of financial services. With over 13 investments and multiple successful exits, the fund has demonstrated strong returns.

IIFL Fintech Fund was set up in 2021, with an aim to invest in early-stage Fintechs that IIFL as a group could collaborate with as well. Over the last four years, the IIFL Fintech Fund invested across various segments in fintech. The portfolio comprises of Leegality, FinBox, DataSutram, Finarkein Analytics, Finvu, Trendlyne, Insurance Samadhan, Xtracap Finance, Castler, Vitra.Ai, EasyRewardz, Multipl, Riskcovry, and TrustCheckr (sold to True Caller).