True Balance secures 10 million USD debt capital for its non-banking finance arm ~ True Credites
MONEYCONTROL: TRUE BALANCE RAISES $10 MILLION DEBT FUND
In this article, published in March 2021 on Moneycontrol, reports about the $10 million debt funding for its NBFC True Credits from Northern Arc. The story is basis the press release dissemintation nationally. It also goes on to narrate how the finances from this round of funding, will be used by the company to reach the underbanked users in India. The article gives an overall picture of the business and how True Balance has catered to the millions of Indians who don’t have a credit score. It also briefly explains the furture trajectory of the company while also expecting additional funding of USD 40 million, this financial year.
The funding announcement was also shared with other publications and has been published in Economic Times BFSI- FinTech True Balance raises $10M from Indian & Korean Investors, Financial Express – True Balance raises $ 10m in debt funding and Hindu Business Line – True Balance raises $10 million in debt funding for its NBFC True Credits where they announce the news, and also, mention the future plans.
Similar articles were also published in YourStory – [Funding alert] Fintech app True Balance raises $10M in debt funding led by Northern Arc, VCCircle – True Balance secures debt capital for its non-banking finance arm, Inc42 – True Balance raises $10 Mn For Its NBFC Arm In Debt Funding and many other where they particularly mentioned the investment secured. The news was also amplified on the social media handles of these publications.