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Digital credit network platform Flexmoney raises $4.8 million, led by this investment venture

The company said the funding is intended to be used for many more lenders and merchants to use the funds to grow their credit network

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Representative Image [Instagram]
Representative Image [Instagram]

Digital credit network platform Flexmoney has raised $4.8 million in a Series A round of funding. According to a report in a web portal, this funding round is led by Pravega Ventures. In addition, Z5 Capital and several other marquee individual investors have also participated in the funding round.

The company said the funding is intended to be used for many more lenders and merchants to use the funds to grow their credit network. Simultaneously launching several additional products and strengthening our position as the leading digital credit and BNPL infrastructure in India. Yezdi Lashkari, Founder and CEO, Flexmoney said, “With this investment, we are one step closer to achieving our vision of simplifying and democratizing consumer credit in India”.

Photo from Unplash

Photo from Unplash

According to Flexmoney, the company aims to streamline consumer lending by enabling trusted banks and NBFCs to offer branded, ‘conscious-sized’, ‘cardless’ digital credit lines to their customers, as well as address those customer segments democratize what are otherwise impractical to service through outdated bank offerings such as credit cards or personal loans.

According to Flexmoney, the company’s EMI and BNPL digital credit infrastructure InstaCredit allows any bank or NBFC to offer branded, instant, cardless point-of-sale credit across Flexmoney’s partner network of over 3,800 online merchants, including leading eCommerce merchants and brands in the country. enables to offer.

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