FincFriends raises Rs 98.5 Cr in debt from other NBFCs

FincFriends, a financial services company, has successfully raised ₹98.5 crore (approximately $11.7 million) in debt funding from other NBFCs (Non-Banking Financial Companies). This debt financing indicates the company's ability to secure capital from institutional lenders to support its lending operations and expansion plans. For NBFCs, securing debt from peers or larger financial institutions is a common method to fuel growth without diluting equity. This funding will enable FincFriends to increase its loan book, expand its services, and potentially reach a wider customer base, contributing to its overall financial growth and market presence within the competitive financial services sector.