Finnable, a Bengaluru-based fintech startup, is getting ready to raise Rs 250 crore (about $29 million) in its pre-Series C round. Matrix Partners, TVS Capital, and India Nippon Electricals Limited are leading the investment. This shows how strong India’s D2C business is, with VC-backed D2C brands and digital financial startups continuing to gain investors’ and customers’ trust.
According to filings, Finnable has already secured Rs 127 crore ($14.7 million) in the first part, with Matrix Partners putting in Rs 125 crore and India Nippon adding Rs 2 crore. The rest of the money should come in soon, completing the round. This deal values Finnable at around Rs 1,300 crore ($150 million) after the money is received, making it a company to watch for investors tracking the fastest-growing D2C brands in 2025.
Founded in 2016 by former bankers Nitin Gupta, Amit Arora, and Viraj Tyagi, Finnable has created a direct-to-consumer model in India for digital lending, providing personal loans to salaried people. With Rs 3,000 crore in assets under management (AUM) and over 2.7 lakh customers, the startup has made a name for itself in India’s fintech-driven D2C space. Finnable’s growth shows that more and more consumers are adopting digital financial services, blurring the lines between fintech, lifestyle, and D2C business models in India.
This fundraising comes just six months after Ranjan Pai’s family office invested Rs 40 crore in the company, showing ongoing confidence from both institutional and private equity investors. For investors tracking D2C funding rounds and startup valuations, the ownership structure is also changing. Before this round, MEMG Family Office LLP held 18.69%, Matrix Partners India 14.53%, TVS Shriram Growth 8.05%, while co-founder and CEO Nitin Gupta held over 24%. With this new investment, founder stakes will likely decrease, but partnerships with strategic investors should give Finnable the long-term stability it needs to grow in India’s competitive fintech market.
Financially, the company ended FY24 with Rs 181.7 crore in revenue and a small loss of Rs 5.88 crore, indicating good operational practices and potential for revenue to grow as it aims for profitability in the coming years. Finnable’s numbers show a sustainable plan, balancing AUM growth with responsible lending.
The main point for D2C business in India is clear: digital lending platforms like Finnable are now a key part of the D2C conversation. As consumers want more convenient, tech-based financial products, the latest fintech startups are changing what it means to be a brand in 2025. Beyond personal loans, Finnable’s growth suggests it could expand into new areas and possibly even have an IPO in the future, as more financial startups become major players.
For now, the Rs 250 crore raise will not only strengthen Finnable’s finances but also position it as one of the top-funded D2C brands in India’s fintech market. This shows the current state of India’s D2C space: an area where innovation, funding, and customer focus are driving the fastest-growing brands of the future.
