TVS, Infosys co-founder back Finnable’s $56m raise

Bengaluru-based fintech firm Finnable is looking to raise around US$56 million (roughly 5.3 billion rupees) at a pre-money valuation of about US$141 million (13.5 billion rupees), according to people familiar with the fundraise.

The lending startup has secured commitments for around 60% of the round, with term sheets having been signed, though due diligence has not yet been completed, they say. Discussions for the remaining 40% are ongoing.

Photo credit: Finnable

TVS Capital and Pratithi Investments, the private equity firm by Infosys co-founder Kris Gopalakrishnan, have committed to the round with around US$10.5 million (1 billion rupees) each, the people say.

Claypond Capital, the family office of Manipal Group chairman Ranjan Pai, has committed around US$5.2 million (500 million rupees), while Nikhil Kamath, the co-founder of stock brokerage platform Zerodha, is also participating in the round, sources say.

Founded in 2016 by Nitin Gupta and Amit Arora – both former Standard Chartered bankers with backgrounds in consumer lending, credit risk, and digital banking – Finnable provides instant, paperless personal loans to salaried professionals in India. Gupta, the company’s CEO, previously founded analytics firm NettPositive, which was acquired by data, analytics, and credit information provider Equifax in 2014.

Finnable, which reported US$360 million in assets under management, offers loans ranging from around US$250 to US$1,000, and it claims to provide disbursals within an hour. It currently operates across 170 cities and served more than 270,000 borrowers in 2025.

The company also provides consumer loans for shopping and lifestyle spending on major ecommerce platforms, including Amazon, Flipkart, Pepperfry, and Urban Ladder.

Finnable is currently generating a return on equity of around 16%, according to figures shared with potential investors.

The company recorded profit after tax of about US$2.5 million in the first quarter. That puts it on an annual profit run rate of around US$10.5 million.

At the proposed valuation, Finnable would be valued at roughly 13.5x its current annualized profit.

Last November, the company raised US$60 million (5 billion rupees) in equity, led by investment firm Z47 and TVS Capital. A high-net-worth individual, who holds a stake in Finnable and asked to remain anonymous, says that the company’s expansion “seems aggressive, as this is a large raise of US$56 million coming on the heels of the earlier one.”

Currency converted from Indian rupee to US dollar: US$1 = 95.60 rupees.