NitstoneFinserv is all set to raise fresh funding of Rs. 150 crores from new investors.

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nitstone

Bangalore-based Non-Banking Finance Company, NitstoneFinserv
is all set to raise fresh funding of Rs. 150 crores from new investors.

NitstoneFinserv is in discussions with investment bankers and VCs to raise Rs. 150 crores to finance the next phase of their growth. The NBFC which was launched in 2018 and has already notched up a significant portfolio of consumer loans.

Nitstone has acquired the best-in-class technology including AI-powered credit decisionmaking tools that are used by industry. The customer acquisition strategy is digital and physical, through a network of partners and sales force, and the business model is uniquely characterized by a data-powered segmentation strategy, efficient and effective operating
workflows and a robust governance mechanism.

Nitstone’s Executive Vice President, GovindanEaden said, “We are confident of securing equity and debt funding in the near term to launch the next phase of growth including recruitment of data scientists, a mobile sales force and best of breed lending technology.”

NitstoneFinserv was established in 2018 to cater to the aspirational needs of the common man by offering personal loans and consumer loans. Nitstone’s vision is to drive and broaden financial inclusion for the underserved population by providing a positive and safe borrowing experience.

NitstoneFinserv specializes in lending personal loans and new to credit loans and will soon cater to Small & Medium Businesses by offering business loans.

About NitstoneFinserv

NitstoneFinserv Private Limited is a technologically equipped NBFC taking a radical approach to lending and financing. From unprecedented products and tools to faster service, we are all about helping our consumers get ahead, grow and find success. Whether they are looking to finance their personal needs, education, buy consumer durables or ascend in/start their business, we promise to empower our consumers to
accomplish the goals they set and achieve financial greatness and growth.