Avail Finance raises $11.5 mn in Series B round

Fintech startup Avail Finance has raised $11.5 mn in Series B funding led by Alpha Wave Incubation (AWI).The round also saw participation from existing investor Matrix Partners.The funds will be used by the startup to expand the team, and to offer a varied product mix for our targeted users, including both existing and prospective.

Navroz D Udwadia, Co-founder and Partner of Falcon Edge Capital, said, “The segments of the population that Avail targets are chronically under-served and starved for capital. Through its unique partnerships, Avail demonstrates best-in-class customer acquisition costs and has developed an AI-led underwriting engine and an alternate credit score to lend to these customers in a differentiated manner. Avail has built a solid execution track record in India, and we are excited to support their next phase of expansion to new markets across the region.”