True Credit Secures $75 Million to Accelerate Growth

Non-bank lender True Credit has secured a $75 million loan from CIM to support its expansion. The funds will enhance Balancehero India's market reach, product offerings, and customer base. The company aims to leverage AI-enabled underwriting and strong unit economics to serve more borrowers across India.

True Credit, a non-bank lender operating the Truebalance app, on Monday declared it has secured a $75 million loan from U.S.-based impact investment manager CIM.

The borrowed funds raised by Balancehero India, the parent company of the NBFC, aim to drive the firm's next growth phase. With current monthly disbursements of over Rs 500 crore, the company seeks to broaden its market, product, and customer reach across India.

Group CFO Anupam Vasadani highlighted the firm's solid unit economics and compliance-first strategy, bolstered by AI-enabled underwriting, as key drivers for future growth, making this investment pivotal for expanding access to underserved borrowers.