Afinit, a fintech company operating the Indian financial platform True Balance, announced that it has secured $75M (KRW 110 billion) in venture debt funding. This significant investment comes from Community Investment Management (CIM), a US-based impact investment firm known for supporting inclusive financial systems in emerging markets. Founded in Korea, AFINIT has built its primary business in India where it offers digital financial services to the unbanked population through its AI-driven credit evaluation system.
Afinit provides digital financial services through its True Balance app, leveraging an AI-based evaluation system to offer credit to low-credit and unbanked users in India who lack traditional financial history.
With this fresh capital, Afinit plans to strengthen the capital structure of True Balance and accelerate its expansion into new markets and product lines across India to further promote financial inclusion for the underserved population.
