Digital lending firm Finnable raises Rs 500 crore from Z47, TVS Capital Funds, others

Bengaluru-based digital lending platform Finnable has raised Rs 500 crore in an equity funding round led by Z47 and TVS Capital Funds, with participation from the MEMG Family Office, led by Ranjan Pai.

The firm will use the raised capital to expand its product portfolio, strengthen technology capabilities, and deepen partnerships with employers and financial institutions.

Founded in 2015 by Nitin Gupta and Amit Arora, Finnable provides personal loans to salaried professionals, especially those earning between Rs 15,000 and Rs 50,000 per month.

“Finnable was built to solve a real gap. Today, we’ve built a business that earns trust before it earns scale,” said Nitin Gupta, CEO and Co-founder, Finnable.

“Millions of salaried professionals fall through the cracks of formal credit despite being financially disciplined. We built a model that serves them responsibly, at scale, and profitably. Our first-time BBB+ rating is proof that fintech can be both fast and financially sound,” added Gupta.

Operating on a hybrid model, Finnable combines digital underwriting and instant approvals with on-ground verification and collections.

Around 65% of its customers are first-time personal loan borrowers, and the firm maintains a gross non-performing asset (GNPA) ratio of 1.1%, below the industry average.

As of September, Finnable’s assets under management (AUM) stood at Rs 3,100 crore, serving more than 2.7 lakh customers.

In FY25, Finnable reported consolidated revenue of Rs 278.49 crore and a profit of Rs 6.74 crore, compared with Rs 181.7 crore revenue and a loss of Rs 5.88 crore in FY24.

“Nitin and Amit’s multi-decadal experience in lending coupled with a sharp risk focus and AI-assisted fraud prevention has enabled Finnable to operate with industry-leading asset quality. 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,” added Vikram Vaidyanathan, Managing Director at Z47.