Fintech startup MyMoneyMantra raises $14.8 million from Dutch investment company IFSD BV and Vaalon Capital.
Both investment groups picked up a minority stake in the company.
MMM serves over four 4 million customers from over 50 cities and has partnered with more than 90 financial institutions, a statement said.
The company was responsible for originating about USD 1 billion of credit-related products in FY2019, it added.
“This investment is a fantastic endorsement from an international partner and comes at an opportune time, as we are eager to capture an even larger share of the rapidly expanding Indian consumer market,” MMM founder and Managing Director Raj Khosla said.
Founded in 1989 by Raj Khosla, MMM as a fintech firm distribute secured and unsecured loans, insurance policies, credit cards, and mortgages, through its online and physical distribution network.