Matrix Partners India invests in Bengaluru-based online lending platform

Last Updated: Mar 14 2018 | 8:06 PM IST

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New Delhi, Mar 14 (ANI): Equity investment firm Matrix Partners's India division has invested in Avail Finance, a Bengaluru-based online lending platform. In addition to Matrix Partners India, Bhavish Aggarwal and Ankit Bhati, Ola's co-founders, Binny Bansal, co-founder and group CEO of Flipkart, Kunal Shah, founder of Freecharge; and Manish Patel, founder and CEO of Mswipe, also participated in the funding round. Avail Finance has raised a total of USD 17.2 million which includes debt and credit lines from multiple NBFCs. Leveraging alternate digital data and the power of the India stack (Aadhaar, eKYC, UPI), Avail aims to create a seamless lending and repayment process to serve this segment.