Finnable Technologies Private Limited
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Finnable Technologies Private Limited - overview
Established
2016
Location
Bangalore, Karnataka, India
Primary Industry
Financial Services
About
Founded in 2016, based in Karnataka, India, Finnable Technologies Private Limited offers innovative financial solutions primarily targeted at salaried professionals seeking personal loans. The company is headquartered in Bengaluru, India. The company was founded by its CEO, Nitin Gupta, Viraj Tyagi, and Amit Arora. Finnable specializes in instant personal loan solutions designed for salaried professionals, offering loans up to ₹10 Lakhs with repayment terms between six and sixty months.
Their fully digital application process allows users to receive funds within hours by providing minimal documentation, primarily KYC requirements like Aadhaar, PAN card, and bank statements. This service is particularly beneficial for first-time borrowers lacking credit history, operating across over 23 cities in India and aiming to modernize the lending experience. Finnable generates revenue through interest on loans and a processing fee on the principal amount. Interest rates range from 16% to 26% annually, with a processing fee of 3% to 4%.
Customers authorize direct debit for their EMIs, ensuring seamless repayment. The company's transparent and customer-focused approach facilitates effective financial transactions for its diverse clientele in the Indian market.
Current Investors
MEMG Family Office, TVS Capital Funds, Malpani Retails Private Limited
Primary Industry
Financial Services
Sub Industries
Consumer Finance, e-Financial
Website
www.finnable.com/
Verticals
FinTech, FinTech, Mobile Apps
Company Stage
Series B
Total Amount Raised
Subscriber access only
Finnable Technologies Private Limited - financials
| Fiscal Year Ended | Mar 31, 2021 | Mar 31, 2022 | Mar 31, 2023 | Mar 31, 2024 |
|---|---|---|---|---|
| Revenue (USD) | 57,144,488 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | - |
| EBITDA (USD) | (21,072,356) | - | - | - |
| Operating Income (USD) | (24,458,246) | - | - | - |
| Operating Margin | (42.8%) | - | - | - |
| % EBITDA Margin | (36.9%) | - | - | - |
| NET Income (USD) | (25,120,632) | - | - | - |
| % Net Margin | (44.0%) | - | - | - |
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