[Funding News] Fintech Startup 50Fin Secures $550K Funding

Fintech startup 50Fin has raised $550,000 in its most recent investment round, which was led by Nitin Gupta and Arali Ventures.

As stated in a press release, 50fin would use the fresh funding to support its expansion goals and technological developments. The company also wants to increase network offerings to non-bank finance companies and distribution.

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Aditya Srinivas Prasad, CEO, 50Fin, commented, "Over the last year, our distribution capacity has gone up 6X, and our products are now generating value across investor classes. We have also launched our B2B vertical, which allows banks and NBFCs to digitise LAS for the clients while completely automating the entire operation of the product. We remain committed to being the leading full-stack LAS provider in the market and are on track to reach profitability in the next 12–16 months."

50Fin functions as a secured lending platform with a mission to democratize and digitize capital market lending, specifically catering to the needs of Indian investors. 

The business asserts that it has shortened the entire loan application process, eliminating the need for hard copy documentation and CIBIL checks and taking just 7 minutes from sign-up to loan acceptance.

About 50Fin

Aditya Srinivas Prasad and Darpan Samir Tanna co-founded 50Fin in 2022 to provide consumers with quick loans secured by shares and mutual funds.

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