Summary:

  • 50Fin was founded in 2022 by Aditya Srinivas Prasad and Darpan Samir Tanna, 50Fin & specializes in providing instant loans against mutual funds 

  • Round is led by Arali Ventures and Nitin Gupta.

  • 50Fin has solidified strategic partnerships with industry giants like Fi Money and Bajaj Capital

 

50Fin, a fintech startup, recently closed its latest funding round, securing a substantial $550,000 investment led by Arali Ventures and Nitin Gupta.

Previously, the company had successfully raised Rs 4.25 crore ($500K) in a pre-seed funding round co-led by 100X.VC, Keynote Capital, and Arun Venkatachalam in July of the previous year.

This fresh infusion of capital is earmarked to propel 50Fin’s expansion initiatives and enhance its technological capabilities, as stated in a press release issued by the company. Additionally, 50Fin aims to broaden its distribution network and bolster its infrastructure offerings to Non-Banking Financial Companies (NBFCs).

Founded in 2022 by Aditya Srinivas Prasad and Darpan Samir Tanna, 50Fin specializes in providing instant loans against mutual funds and shares to its customers. The company has revolutionized the loan application process, completing everything from initial sign-up to loan approval within a mere 7 minutes, all without the necessity of physical documents or CIBIL checks.

50Fin has solidified strategic partnerships with industry giants like Fi Money and Bajaj Capital, enabling it to offer loan-against-securities (LAS) solutions to a diverse clientele.

Since its last funding round, 50Fin claims to have experienced exponential growth, with its distribution capacity skyrocketing by over six times.