Faircent gets fresh round of series B funding of Rs 25 cr

Peer-to-peer (P2P) lending platform firm Faircent has received a fresh series B funding of Rs 25 crore from existing investors that the company will utilise to expand its business.

Faircent said the fresh funding from existing and six new investors validates company's business model and fund will be utilised to enhance lending and asset class offerings.

It will also strengthen technology and drive awareness in the market about P2P lending marketplace, it said in a statement.

The latest funding, led by Incofin Investment Management, saw participation from all existing investors – JM Financial, 3one4 Capital, M&S Partners Pte Ltd, and Aarin Capital.

Incofin IM, Muthoot Fincorp, EIP, Das Capital and Starharbor Asia Pte Ltd are among new participants which funded the company.