Finnable raises Rs 250 crore from Z47, TVS Capital

Digital lending fintech startup Finnable has raised Rs 250 crore in a funding round led by Z47 (formerly Matrix Partners) and TVS Capital.

This is the company’s second round of funding. The same investors had earlier invested Rs 250 crore in November 2024. With this round, the Bengaluru-based lending startup has now raised a total of Rs 540 crore. The MEMG family office, led by Ranjan Pai, has also invested in the company.

The company plans to use the new funds to improve its technology, open more branches, and develop new products. It started offering loans against property (LAP) in April this year and is currently providing this service through 15 branches.

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"The equity we have raised is primarily for lending," cofounder Nitin Gupt said. "We will also invest some of it in AI and technology and expansion into more geographies."

"We are proud to double down on our partnership with them as they continue scaling their business and introducing new loan products designed around customer life goals," said Z47 managing director Vikram Vaidyanathan.

About Finnable 

Founded in 2015 by ex-bankers Gupta and Amit Kumar, along with Viraj Tyagi, Finnable is a Bengaluru-based fintech startup that provides personal loans to salaried professionals. 

The company operates an RBI-registered NBFC arm called Finnable Credit. As of June 30, 2025, its assets under management (AUM) were Rs 2,924 crore, up from Rs 370 crore in March 2022, according to a CareEdge rating released in September this year.

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The company also engages in co-lending and partners with Axis Bank, Utkarsh Small Finance Bank, Vivriti Capital, TVS Credit, and others. Part of this co-lending business operates under a first loss default guarantee (FLDG) model, where the fintech covers a portion of loan defaults for its partner banks.

About 95% of Finnable’s business comes from personal loans, while the rest comes from loans against property, mainly targeting micro, small, and medium enterprises. In FY25, the company reported consolidated revenue of Rs 278.49 crore and a profit of Rs 6.74 crore.

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