True Credit borrows USD 75 mln from US-based CIM

Mumbai, Dec 22 (PTI) Non-bank lender True Credit, which operates the Truebalance app, on Monday announced that it has borrowed USD 75 million (around Rs 671 crore) from US-based impact investment manager CIM.

The debt raised by the NBFC's parent Balancehero India from Community Investment Management (CIM) will be used to propel the next phase of growth of the company, which has been disbursing over Rs 500 crore every month in 2025, according to a statement.

It will enable Balancehero to accelerate expansion into new markets, product categories, and customer segments across India, the statement said.

"Our AI-enabled underwriting, solid unit economics and compliance-first approach position us well for the next stage of growth," its group chief financial officer Anupam Vasadani said.

He added that the strengthened liquidity and CIM's impact-capital approach will enable it to serve "millions more" borrowers.

CIM's country director for India Ravi Vukkadala said the platform has embarked on an ambitious investment footprint in the country and added that True Credit's focus on responsible credit delivery to underserved segments was a draw.

"Drawing on our experience over the past 12 years of investing in over 50 leading fintech companies globally and enabling more than USS 30 billion in credit, we expect this investment to support True Credits' next phase of growth," he added. PTI AA MR