Balancehero India Pvt. Ltd, which operates financial technology firm True Balance, has raised $28 million in a Series D round of funding from SoftBank Ventures Asia and South Korea-based investment firms Naver, BonAngels, Daesung Private Equity, and Shinhan Capital.
The Gurugram-based subsidiary of Balancehero Co. Ltd Korea will use the funding proceeds to fuel the company’s India expansion plans, bolstering technology, and preparing for the next round of growth that it now foresees, it said in a statement.
“From the day we launched, our focus was on the next billion Indian users. These people will continue to be at the heart of every decision-making process, every change, every pivot, every new service, or product line that we introduce in India. We will continue focusing on non-online payment users, non-credit score users, people who deserve our help, but need a way to get to it,” Charlie Lee, Founder and CEO, True Balance said.
True Balance, which was officially launched in India in 2016, has disbursed via its primary loan products over Rs 1oo crore this year alone to India’s underbanked, uncredited, unaccessed, and the financially uneducated.
The company had previously raised $62 million from SoftBank Ventures Asia, Line Ventures Corporation, D3 Jubilee Partners, and others.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India from November 15-22, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|True Balance||Gurugram||28 million||Series D||SoftBank Ventures Asia, Daesung Private Equity||Naver, BonAngels, Shinhan Capital||Financial Services||FinTech|
|Plum||Bengaluru||4.04 million||-||Sequoia's Surge||IF India Partnership, Tanglin Ventures, AngelList||Insurance||Insuretech|
|Instoried||Bengaluru||1 million||Pre-Series A||Mumbai Angels, 9Unicorns||JPIN, Jain Angel Network, SOSV, Artesian, FAAD Angel Network, Lead Angels||Internet||AI and Machine Learning|
|Zeotap||Bengaluru||18.5 million||Series C||SignalFire's Breakout Fund||-||Marketing/Advertising||Big Data|
|Turtlemint||Mumbai||30 million||-||GGV Capital||American Family Ventures, MassMutual Ventures, SIG, Sequoia Capital India, Blume Ventures, Nexus Venture Partners, Dream Incubator, Trifecta Capital||Insurance||Insuretech|
|MindTickle||San Francisco||100 million||Equity/Debt||Softbank’s Vision Fund 2||Norwest Venture Partners, Canaan Partners, New View Capital, NEA, Accel Partners, Qualcomm Ventures||Software||Sales & Marketing Software|
|Prolixr||Gurugram||-||Seed||Alfa Ventures, Divij Bajaj||-||Consumer Products||Beauty & Hygiene|
|Kitchens Centre||Delhi||-||Pre-Series A||Village Global||-||Real Estate Development & Operating Company||Restaurant Tech|
|DaMENSCH||Bengaluru||6.7 million||Debt/Equity||Matrix Partners India||Saama Capital, Whiteboard Venture Partners, Alteria Capital||Consumer Products||-|
|Animall||Bengaluru||6 million||Series A||Sequoia Capital||Omnivore, LetsVenture||Retail||E-commerce|
|Clinikk||Bengaluru||-||Pre-Series A||Emphasis Ventures||Times Internet Ltd, WEH Ventures, 500 Durians fund||Healthcare Services||HealthTech|
|Arata||Delhi||1 million||Pre-Series A||Nikhil Vora, Rohan Vaziralli||DSG Consumer Partners||Consumer Products||Fitness & Wellness|
|Grene Robotics||Hyderabad||-||Angel||-||-||Software||Robotics & Drones|
|AdvaRisk||Mumbai||312292||Equity||ICICI Bank||-||Financial Services||FinTech|
|Arzooo||Bengaluru||-||-||Eric Yuan, Bill Tai||-||Consumer Electronics||E-commerce|
|Udemy||San Francisco||50 million||Series F||-||Learn Capital||Education/Training||EdTech|
|NIRA||Bengaluru||1 million||-||-||-||Financial Services||FinTech|
|Thrive||Mumbai||-||Pre-Series A||Whiteboard Capital, Ahimsa Capital||-||Food||FoodTech|
|Prescribe||Chennai||134952||Seed||Titan Capital||AngelList, Curofy founders||Healthcare Services||HealthTech|
|PlayerzPot||Mumbai||3 million||Series A||-||-||Travel & Leisure||eSports|
|Krimanshi Technologies||Jodhpur||674763||Seed||Rajasthan Venture Capital Fund (RVCF)||-||Biotechnology||Biotech|