Credit Fair Raises $5 Mn Debt from Symbiotics Investments

NBFC Credit Fair has raised $5 million (around INR 43.4 crore) in debt from Symbiotics Investments. 

The funds come from a $75 million green bond issued by Symbiotics and backed by British International Investment to promote renewable energy adoption in Asia and Africa.

The company plans to use the fresh capital to expand its rooftop solar financing, focusing on residential customers, MSMEs and housing societies in tier-II and III cities. 

The funding will also help meet the rising demand for rooftop solar installations, making financing more accessible for underserved communities.

Read also- OYO-Owned European Holiday Home Brand DanCenter Launched In India

Vikas Agarwal, Co-founder of Credit Fair, said, “This funding comes at a pivotal time when we expand our portfolio to support distributed energy solutions like rooftop solar. With this funding we plan to fund 2,500 new rooftop solar projects, directly contributing to the reduction of carbon emissions and providing sustainable energy solutions to thousands of customers.”

About Credit Fair

Founded in 2018 by Vikas Agarwal and  Aditya Damani, Credit Fair is an RBI-registered NBFC that focuses on financing solar installations for individuals and MSMEs.

Advertisment

The company says it has helped over 8,000 customers switch to rooftop solar, cutting over 4,100 tonnes of carbon emissions and saving on electricity costs each year.

Credit Fair is supported by top venture capital firms like LC Nueva AIF and Capital A and has received debt funding from major banks and NBFCs, including SBI, SIDBI, IDFC First Bank, AU Bank and Oikocredit.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Advertisment