● What is in the news?
▪︎Blue collar-focused lending startup, Avail Finance has raised Rs 24 crore~$11.5 million in a Series B funding round from Alphawave Incubation Fund and Matrix Partners.
▪︎To date, the startup has raised $21.6 million in equity from Matrix Partners, Falcon Edge, and Ola.
● More about Avail Finance
▪︎Fintech startup Avail Finance caters to various financial needs of the customer through sachetise offerings in credit, savings, and insurance
▪︎Founded in 2017 by Ankush Aggarwal and Tushar Mehndiratta, fintech startup Avail Finance is focused on the gig economy segment.
▪︎This Binny Bansal-backed startup has grown from a lending platform to the blue-collar workforce to now a neo-bank with products in various categories, including savings, insurance, investment products, etc.
▪︎ It plays an important role in improving the financial health of a segment, which is playing a critical role in serving the Indian population.