Pranav Kiran · · 1 min readIndian fintech platform raises $9m series A funding
Bengaluru-based fintech startup Avail Finance has raised US$9 million in a series A funding round to expand its product portfolio, according to a media statement.
Indian venture capital firm Matrix Partners India led the round.
Photo credit: olegdudko / 123RF Stock Photo
The statement also said the lending platform, targeted at blue-collar workers, will use the proceeds to launch micro-savings and micro-insurance products.
Founded in 2017, Avail Finance gives interest-free short-term loans to service and blue-collar workers who might be facing cash flow issues.
In March last year, the company raised a seed funding round that was also led by Matrix Partners India. Angel investors in that round included Flipkart co-founder Binny Bansal, Cred founder Kunal Shah, Ola founders Bhavish Aggarwal and Ankit Bhati, and Mswipe founder Manish Patel.
Editing by Dante Gagelonia
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