Fintech startup Stashfin has recently secured $100 million in debt funding from InnoVen Capital, Trifecta Capital, and other domestic investors.
This debt round follows the $270 million Series C funding round raised by Stashfin last year. With this new funding, Stashfin aims to drive growth, enhance customer experience, and optimize its portfolio for potential securitization.
Founded in 2016, Stashfin offers credit line cards to underserved segments of the Indian population, providing users with instant credit and transactions.
Its other financial products include point-of-sale (PoS) machines, mobile wallets, and payment gateways. The neo banking startup has offered its services to over 10 million customers, making it a reliable source of financial support for many.
Stashfin has raised a total of $415 million in equity and debt funding from multiple investors, including Uncorrelated Ventures, Fasanara Capital, and Abstract Ventures. The startup has received support from some of the most prominent names in the industry, a testament to its credibility and potential for exponential growth.
The fintech sector in India is expected to reach $1.3 trillion by 2025, with the lending tech space projected to account for $616 billion of the total addressable market size by that time. Stashfin’s unique product offering and efficient business model have enabled it to scale quickly and meet the extensive market demand.
The company’s founder and CEO, Tushar Aggarwal, expressed his optimism for the future, saying, “It is promising to see how our efforts and unique product offering have helped us scale swiftly and benefited all of our partners and stakeholders. The new collaborations will add more velocity to our growth given our robust business model and extensive market demand.”
Stashfin reported a loss of INR 18.64 crore in the financial year 2021-22 compared to a loss of INR 13.39 crore in FY21. However, its operating revenue in FY22 was INR 47.5 crore, a significant increase from INR 8.3 crore in the previous fiscal year.
InnoVen Capital’s Managing Director, Ashish Sharma, expressed his confidence in the partnership with Stashfin, saying that it will drive positive growth for the organization, while Trifecta Capital’s Co-founder and Managing Director, Nilesh Kothari, praised Stashfin for being one of the most efficient and credible new age fintech companies in India.